Australia has a new Reserve Bank of Australia Governor today – Bullock replaces Lowe

<p>No doubt Lowe will be in demand in the private sector should he wish to head that way. He leaves the RBA with a bit of a cloud over him due to the ill-advised comment in 2020 about 'no rate hikes until 2024'. And with inflation having gotten away from the bank forcing a series of rapid interest rate rises.</p><p>For working Australians though, Lowe leaves with the unemployment rate barely above a 5-decade low. Full employment is the other part of the RBA's official mandate and the result on this is stellar. </p><p>Former Deputy Governor Bullock is now in the hot seat as the big boss. We wish her well. </p><p>Deputy RBA governor Michele Bullock and RBA governor Philip Lowe</p>

This article was written by Eamonn Sheridan at www.forexlive.com.