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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by Jyotsna V
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