Rba Michele Bullock Named As Governor

 Rba Michele Bullock Named As Governor

RBA: Michele Bullock Named As New Governor

On Friday, the Reserve Bank of Australia (RBA) announced that the government had appointed Michele Bullock as the next governor. Once Lowe's current term ends after a few months (September), Michele will become the next governor.

This will be the first time in RBA's history that a female leader is selected for the role of governor. For the position, a handful of contestants were considered, such as David Gruen (head of the Australian Bureau of Statistics) and Steven Kennedy.

For now, Bullock is working as the RBA's deputy governor, and once she takes over the role of the governor, she will serve for seven years.

RBA Going Through Overhaul

According to experts, the appointment of Bullock is part of the RBA overhaul which started as a result of an independent review.

Under the leadership of the new RBA governor, the central bank will go through various changes. For starters, the monthly meetings will be replaced with eight meetings per year. Similarly, the bank policies will be adjusted to support employment and combat inflation.

Recently, Bullock made a statement about how she will be facing several challenges as the new RBA governor. But she also talked about how she will be supported by the members of the board. She said that her commitment is to ensure that the RBA continues to deliver on its operational and policy objectives to benefit the Australian population.

The appointment of Bullock comes at a time when Australis is facing one of the worst inflation in over 30 years and slow growth.

Under the leadership of Lowe, RBA went on one of the most aggressive tightening cycles only last seen during the 2008 financial crisis.

Looking ahead, it will become clear about Bullock's plan once she assumes office as the new RBA governor. For the most part, any major change to the policy is highly unlikely.

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