(17 July 2023 – Australia) Michele Bullock will succeed outgoing Dr Philip Lowe as Reserve Bank of Australia (RBA) Governor in September.
Prime Minister Anthony Albanese and Treasurer Jim Chalmers named Ms Bullock as the next RBA Governor, making history as the first woman to hold the position. Currently the deputy governor of the central bank, Bullock has held senior positions with the RBA for the last four decades. Prior to her current role, Ms Bullock was the assistant governor (financial system).
Her appointment comes at a time of major upheaval for the bank as it implements recommendations from a wide-ranging review into its operations and communications criticism.
“We are confident that Ms Bullock will provide the strong leadership and stability necessary for the RBA to navigate an increasingly complex and rapidly changing economic environment. Her appointment comes after a long, methodical, considered, and consultative process which led the cabinet endorsing the Treasurer’s recommendation today. This is a history making appointment” Mr Chalmers stated.
“Michele Bullock will become the first woman to ever lead the Reserve Bank in this country. Michele Bullock is the person best placed to take the reserve bank into the future. Michelle is an outstanding and economist but also an accomplished and respected leader. Her appointment best combines experience and expertise with a fresh leadership perspective at the Reserve Bank as well. This is a big job. This is one of the most important appointments that we will make as a government. And so we have treated it methodically and in a considered and consultative way as well.”
“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” Ms Bullock commented on her appointment
“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” The outgoing RBA Governor Lowe commented.