Michele Bullock, the current Deputy Governor of the Reserve Bank of Australia, has been appointed as the new Governor, making her the first woman to hold this significant position in the bank's 63-year history. The announcement was made by Treasurer Jim Chalmers and Prime Minister Anthony Albanese. Bullock's appointment comes as Philip Lowe's seven-year term as Reserve Bank Governor comes to an end.
Bullock has been serving as Deputy Governor since April 2022 and has a strong background within the Reserve Bank. She has previously held positions such as Assistant Governor (Business Services), Assistant Governor (Currency), Adviser for the Currency Group, and Head of Payments Policy Department.
Prime Minister Albanese expressed his confidence in Bullock's abilities, stating, "Michele is imminently qualified to lead this national institution." He also mentioned that she would oversee the recommendations of the RBA review and congratulated her on the appointment, highlighting her outstanding economic expertise and leadership qualities.
Treasurer Chalmers described Bullock as an "outstanding economist" and an accomplished and highly respected leader. He emphasized her fresh perspective and noted that she would be the first woman to lead the Reserve Bank of Australia. Chalmers also commended Bullock's deep thinking about the future direction of the bank and praised her style of leadership.
Chalmers further stated that Bullock's appointment was a result of extensive consultation and that she possesses the right combination of experience and expertise to lead the Reserve Bank into the future.
Michele Bullock is scheduled to assume her role as Governor on September 18.
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