Michelle Bullock to replace Philip Lowe as RBA governor

Michelle Bullock, deputy governor of the Reserve Bank of Australia (RBA), has been appointed as the new governor for a seven-year term beginning on 18 September 2023. She will be the first woman to head the RBA.

The role of the Reserve Bank Governor includes a number of responsibilities, including that of the Chairman of the Reserve Bank Board, the Payment Systems Board and the Financial Regulatory Council.

Deputy Governor Michelle Bullock said,

“I am extremely honored to be appointed to this important position. Coming into this role is a challenging time, but I will have the support of a strong executive team and board.

I am committed to ensuring that the Reserve Bank meets its policy and operational objectives for the benefit of Australians.

The current governor, Philip Lowe, will remain in office until the end of his term on 17 September 2023.

Philip Lowe

Governor Philip Lowe said,

“The Treasurer has made a first class appointment. I congratulate Michelle on her appointment as Governor.

The Reserve Bank is in very good hands as it tackles the current inflation challenge and implements the recommendations of the RBA review. I wish Michelle all the best.”