CANBERRA: Australia has appointed the first woman as the governor of Reserve Bank of Australia (RBA) in the 63-year history of the central bank.
Michele Bullock, a senior economist at the RBA, will take over from outgoing head Philip Lowe in September.
Bullock said in a statement on Friday that she was deeply honoured to have been appointed to this prestigious position. It is a difficult time to be assuming into this charge, but she would be supported by executive team and boards, Al Jazeera reported.
Bullock added that she was committed to ensuring that the central bank successfully follow its policy and operational goals for the benefit of the nation.
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Prime Minister Anthony Albanese said that Bullock is an outstanding economist and leader.
Albanese said that her appointment strikes the balance between providing exceptional experience and skills as well as offering a fresh leadership perspective.
Bullock joined the central bank in 1985 after graduating from University of New England in Australia the previous year. She served in many roles related to areas including government banking and payment settlements before becoming the first female deputy governor in April 2022.
Her appointment comes after the Australian government choose not to extend Lowe’s 7-year term.
Lowe’s replacement had been widely likely after the outgoing governor came under intense criticism for overseeing a steep surge in interest rates that heaped pressure on mortgage owners.
