Michele Bullock has been selected as the new governor of the Reserve Bank of Australia, succeeding Philip Lowe.
Why it matters
This appointment is significant as it marks a historic moment for the Reserve Bank of Australia, with Bullock becoming the first woman to lead the central bank. It reflects progress towards gender equality in leadership positions and highlights the increasing recognition of women's contributions in the finance sector.
What the papers say
The Independent describes Bullock's appointment as historic and highlights her commitment to delivering on the bank's objectives. Al Jazeera emphasizes Prime Minister Anthony Albanese's praise for Bullock as an outstanding economist and leader. Reuters mentions that Bullock's appointment comes amid a broader shake-up at the Reserve Bank of Australia, with Treasurer Jim Chalmers considering whether to extend Philip Lowe's term as governor. Euronews provides background information on the challenges of appointing a new NATO chief, which is unrelated to Bullock's appointment. The Age reports on Paul Little stepping down as Australian Grand Prix chairman and Travis Auld being chosen as the preferred candidate for the CEO role.
How we got here
Michele Bullock, currently serving as the deputy governor of the Reserve Bank of Australia, has been selected as the new governor, succeeding Philip Lowe. Bullock's appointment comes at a time when the Reserve Bank of Australia is undergoing significant changes, with a review commissioned by the government outlining various reforms for the institution. The appointment of a woman as the head of the central bank reflects progress towards gender diversity in leadership roles.
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