Central Banks
Australia’s Delay Naming RBA Governor Bolsters Kennedy, Bullock
- July decision suggests it’ll be difficult to recruit offshore
- Next governor faces sticky inflation, significant reform task
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Australian Treasurer Jim Chalmers’ delay in announcing the next Reserve Bank governor may limit his options to local candidates and could even see incumbent Philip Lowe receive an extension, former senior central bank officials, lawmakers and economists say.
Lowe, whose seven-year term expires Sept. 17, has faced criticism over his policy guidance and communications, prompting many observers to conclude he won’t be reappointed. Chalmers last week pushed back the decision to July 31 at the latest, all-but ruling out an offshore candidate given the tight timeframe.