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Australia’s central bank gets first female deputy governor -Breaking

by Mike Robinson

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SYDNEY, (Reuters) – Friday’s appointment by the Australian government of a female second-in-command at its central bank was a first in 62 years. She is likely to challenge for the job.

Michele Bullock was named Deputy Governor of Reserve Bank of Australia by Treasurer Josh Frydenberg, elevating her to her position of Assistant Governor for financial stability.

Bullock begins her five year term in March, immediately after Guy Debelle’s surprise resignation. Debelle left for a gig with Andrew Forrest, Australia’s billionaire mining entrepreneur.

Bullock was a straight graduate of the university and joined the central banking in 1985.

As part of her new position, she will also be a member on the RBA’s policy-making Board (which sets interest rates) consisting of nine members. Analysts expect rates to remain at record lows of 0.1% during the next monthly meeting, which is scheduled for April 5.

Philip Lowe, RBA Governor, has stated that it is possible for a rise to be made later in the year because of strong economic growth and sharp inflation acceleration.

Lowe (NYSE: ) will be retiring after his seven-year term in office as governor. However, he said that he is open to a second term from the government if it was offered.

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