Page 7 - Guy Debelle News Today

Prime Minister Anthony Albanese has announced the successor for Philip Lowe at the Reserve Bank of Australia.

Michele Bullock, the first female Reserve Bank governor, is an RBA lifer from the payments system side of the bank.

Michele Bullock has spent her entire career at the RBA, and she becomes the first woman to take the top job as governor.

Michele Bullock, who takes over as Reserve Bank governor in September, very recently said it was easier just to jack up interest rates. She also had a problem with low unemployment.

Although on the fence about the replacement of governor Philip Lowe, economists have welcomed his successor, deputy Michele Bullock, as a sign of structure and continuity at the central bank.

It is understood Reserve Bank of Australia governor, Philip Lowe, will not be re-appointed to the governor position with a decision due to be made later today.

Michele Bullock owns her family home in Five Dock outright, and has investment properties in nearby Russell Lea and Drummoyne which could be bringing in as much as $1,335 in rental income.

The Opposition will not support Steven Kennedy or Jenny Wilkinson to replace Philip Lowe as RBA governor.

The PM and treasurer announce Michele Bullock will replace Philip Lowe as the next Reserve Bank governor; Jim Chalmers says she has the expertise to implement the recommendations of the RBA review. Follow updates here.

Westpac chief economist Bill Evans is now expecting the Reserve Bank to cut interest rates after Easter next year. By then, the Reserve Bank may have a new governor.