Government appointing first female RBA governor a ‘momentous decision’

Sky News Political Editor Andrew Clennell says the government’s decision to appoint its first female RBA governor was a “momentous decision”. “Michele Bullock, the Deputy Governor who has been at the bank for 38 years, will replace Philip Lowe from September,” Mr Clennell said. “Philip Lowe has had seven years in the job and his fate pretty much sealed by a prediction made in 2021 that interest rates would not rise again most likely until 2024, after which the bank had to hike rates up 12 times. “The PM indicated this was Mr Lowe’s fatal error at a Sky News event last month.”