In a historic appointment, Michele Bullock has been named the new governor of the Reserve Bank of Australia (RBA), becoming the first woman to hold this position. Bullock, who currently serves as the deputy governor of the RBA, is highly qualified and has been praised for her expertise.
The announcement was met with approval from both Prime Minister Anthony Albanese and opposition leader Philip Lowe. Albanese highlighted the importance of Bullock’s role in managing inflation amidst global challenges stemming from Russia’s invasion of Ukraine. He also expressed gratitude to Lowe for his leadership during the Covid-19 pandemic. Additionally, Albanese emphasized the need for RBA reform based on a government-commissioned review, which Bullock would oversee to ensure an effective monetary policy framework for Australia and the world amid ongoing economic challenges.