Reserve Bank Governor Philip Lowe has announced a raft of reforms the bank will make following the recent review of its operations, as the government prepares to announce who will lead it after his term expires in September.
Lowe also reiterated that interest rates – held steady by the bank this month – might have to rise further to combat inflation.
It is generally expected Lowe will be replaced, when Treasurer Jim Chalmers takes his recommendation to cabinet. Contenders for the post include secretary of the finance department Jenny Wilkinson, bank deputy governor Michele Bullock, treasury secretary Steven Kennedy, head of the Australian Bureau of Statistics, David Gruen, and former RBA deputy governor Guy Debelle.
