Prime Minister Anthony Albanizi announced that Michele Bullock will be the person to assume the highest position at Australia's central bank, the Reserve Bank.
The announcement came immediately after the cabinet meeting at which the Minister's proposal for Philip Lowe's replacement was approved.
The new Reserve Governor will also lead the changes in the bank's operation — changes that will see the establishment of a new committee in the Reserve to decide the course of interest rates. Chalmers said that Mrs. Bullock is the best person to lead the central bank and that combines experience and skills.
Both Prime Minister Anthony Albanizi and Economy Minister Jim Chalmers thanked Philip Lowe for his contribution to the Reserve, both as governor and other central bank posts.
