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New Chief at Australian Central Bank

New Chief at Australian Central Bank

Philip Lowe has been named as successor to Glenn Stevens and will be the new chief at the Reserve Bank of Australia in September. Scott Morrisson, the federal treasurer has appointed Dr Lowe for a seven year period from September 18 2016, this year.

“Scott Morrisson, the federal treasurer has appointed Dr Lowe for a seven year period from September 18 2016, this year.”

~ Financial Times

Dr Lowe was previously head of the Financial Institutions and Infrastructure Division at the Basel-based Bank for International Settlements, where he penned research on the financial stability role of central banks in low-inflation environments.

Related Reports: The Wall Street Journal, Financial Times

 

About Australia Reserve Bank

The Reserve Bank of Australia (RBA) is Australia’s central bank and derives its functions and powers from the Reserve Bank Act 1959. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a strong financial system and efficient payments system, and issuing the nation’s banknotes.

The RBA provides certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions. Additionally, it manages Australia’s gold and foreign exchange reserves.

Visit: Australia Reserve Bank


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