RBA to experience big shakeup with imminent announcement of a new governor

The 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.