Australia Will Replace Philip Lowe as Central Bank Governor
- Lowe not being extended looked inevitable as criticism mounted
- ABC says replacement announcement after cabinet meeting Friday
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Australia’s government will not reappoint Philip Lowe as Reserve Bank governor, as widely anticipated, seeking a circuit-breaker as criticism of the central bank’s performance mounts.
Lowe, whose seven-year term expires on September 17, isn’t going to receive an extension, according to a person familiar with the matter. Lowe declined to comment when contacted by Bloomberg early Friday.