Michele Bullock to Succeed Philip Lowe as RBA Governorby Fintech News Singapore July 17, 2023
The Reserve Bank of Australia’s (RBA) Deputy Governor Michele Bullock has appointed as the new Governor for a seven-year term commencing 18 September 2023. She will be the first woman to lead the RBA.
The role of the Reserve Bank’s Governor comes with several responsibilities, including Chair of the Reserve Bank Board, the Payments System Board and the Council of Financial Regulators.
Deputy Governor Michele Bullock said,
“I am deeply honoured to have been appointed to this important position. It is a challenging time to be coming into this role, but I will be supported by a strong executive team and boards.
I am committed to ensuring that the Reserve Bank delivers on its policy and operational objectives for the benefit of the Australian people.”
The current Governor Philip Lowe will continue in his position until the end of his term on 17 September 2023.
Governor Philip Lowe said,
“The Treasurer has made a first-rate appointment. I congratulate Michele on being appointed Governor.
The Reserve Bank is in very good hands as it deals with the current inflation challenge and implementing the recommendations of the Review of the RBA. I wish Michele all the best.”