Michele Bullock will replace Philip Lowe as Governor of the Reserve Bank of Australia, making history as the first woman to take on the role.
The decision was reached on Friday morning after Cabinet agreed with Treasurer Jim Chalmers' recommendation that Ms Bullock was the best fit for the role.
She is currently serving as the RBA deputy governor after being appointed in the role in April last year, but has worked at the bank since 1985. "Michelle's will be an important job, at an important time with the challenges that we face globally, challenges which I, of course, have been discussing at the NATO summit over recent days.Ms Bullock will assume the role as RBA chief on September 18, a day after Mr Lowe's current seven-year term expires.
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