Posted 9/18/2023, 10:26:00 AM
Australia Appoints First Female Central Bank Governor Amid Cost-of-Living Crisis
- Michele Bullock appointed as first female governor of Australia's central bank amid cost of living crisis
- Replaces Philip Lowe, who faced criticism for misleading public about future interest rate hikes
- Inflation jumped in Australia after Russia's invasion of Ukraine, leading to aggressive rate hikes
- Lowe also scrutinized over RBA's hierarchical culture; review found issues with accountability
- As insider, Bullock expected to face similar challenges on inflation and internal culture