The Reserve Bank of Australia is set to have its first female governor in its 63-year history after Deputy Governor Michele Bullock was selected to replace the incumbent Philip Lowe whose term was not renewed, as widely expected, after the central bank came under severe public criticism for the interest rate hikes as well as for the drastic shortcomings in its forward guidance and communication in recent times.
Treasurer Jim Chalmers made the announcement of Bullock's appointment on Friday. She is given a seven-year term that will commence on September 18.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.