Shadow Finance Minister Jane Hume says the government has made it clear that it is considering a “replacement” for Phillip Lowe as the RBA Governor.
Shadow Finance Minister Jane Hume says the government has made it clear that it is considering a “replacement” for Phillip Lowe as the RBA Governor. “Its already released a list, a short list, that’s been mooted and debated in the public arena,” Ms Hume told Sky News Australia.
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RBA governor to deliver potential final speech in BrisbanePhilip Lowe will be speaking at a business event in Brisbane later this week and there is speculation it may be his final speech as governor of the Reserve Bank of Australia. Judo Bank Chief Economic Advisor Warren Hogan says Australia will be waiting for him to discuss two topics in particular. “One, is he going to really talk about the risks to monetary policy, this risk that our interest rate has to go up to where the rest of the world is, above five per cent,” Mr Hogan told Sky News Australia. “The other one, which the political people are interested in, is whether he has a go at the government in any way, shape or form, around their policies in the last twelve months and whether it’s making his life more difficult.”
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RBA to experience big shakeup with imminent announcement of a new governorThe Reserve Bank is set to undergo one of its biggest shake-ups in history with the imminent announcement of a new governor. Treasurer Jim Chalmers is being urged not to extend Governor Philip Lowe’s contract, with Department of Finance Secretary Jenny Wilkinson the frontrunner to replace him. Treasury boss Stephen Kennedy and RBA Deputy Governor Michelle Bullock are also being touted for the role. Assistant RBA governor Luci Ellis has quit her position to take up a Chief Economic Advisor role with Westpac. Dr Chalmers will confirm who will lead the RBA in the coming days.
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‘Catastrophic’ failures of the RBA show need for a new ‘strong’ governorThe RBA has not wanted to take “basic first-year economic advice” about why they’ve been “so wrong, so consistently” and will need a new governor to challenge the institution, says former Labor senator Stephen Conroy. “I think it’s important that they pick someone from outside the existing loop,” Mr Conroy told Sky News Political Editor Andrew Clennell. “I think the failure of the Reserve Bank over the last twelve months has been catastrophic for the Australian community. “It needs to be someone strong enough to go in there and challenge the underpinnings that they’ve been using for the last 20 years because they’ve just been getting it wrong.”
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‘Locked in’: Jenny Wilkinson predicted to be the new RBA governorThe Herald Sun’s business commentator Terry McCrann believes Jenny Wilkinson is “locked in” to be the new RBA governor, and the decision was made “at least last week”. “That announcement was intended to be made later this week,” Mr McCrann told Sky News host Caleb Bond. “Now, maybe they were trying to juggle an announcement between the Prime Minister coming back from the NATO summit and Jim Chalmers heading off to yet another summit overseas, the G20 Summit in India. “Maybe they were trying to fit the announcement inbetween those two things.”
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RBA governor decision expected this weekWith central bank boss Philip Lowe’s tenure in limbo, Treasurer Jim Chalmers has set the stage for a national wellbeing framework, saying textbook fiscal policy can only go so far.
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RBA heavyweight gets nod to replace Westpac chief economistOne of the countries top bank economists, Westpac’s Bill Evans, will move on from his role of chief economist from January next year.
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