Treasurer Jim Chalmers is due to make an announcement on RBA governor Philip Lowe’s future in July. There are seven potential local candidates, including Lowe, to head the central bank. Here is what you need to know about them.
Similar to Lowe, Bullock is an RBA stalwart, having been employed with the bank since 1985, when she joined as an intern during university. Bullock has been heavily involved in most of the key areas across the bank, with experience in policy and operational roles.
Outside the bank, she is involved with a charity that helps Indigenous children in Tamworth and has built housing for disadvantaged communities in Cambodia, Fiji, Indonesia and the Philippines.Traditionally, the deputy governor has usually succeeded the governor. There’s yet to be a female RBA governor, so this could play in her favourBut Bullock will have only been in the deputy job for 18 months by the time Lowe’s term expires – shorter than previous deputies.
As a member of the RBA board for the past four years, Kennedy is a mix of outsider and insider. He understands how the bank works, with knowledge that could help implement the RBA review. He is experienced running big organisations. Kennedy has been more relaxed than Lowe about rising wages and does not believe a wage-price spiral is a big risk
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