Bullock replaces current Reserve Bank of Australia chief Philip Lowe, whose term expires in September

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Michele Bullock has been named as the new governor of the Reserve Bank of Australia, replacing Philip Lowe. She is the first woman to lead the central bank.

Prime minister Anthony Albanese said Bullock, who has been the RBA deputy governor since April 2022, was an “outstanding economist and leader with a deep understanding of the RBA’s role and operations, built up over her long and distinguished career with the central bank.”