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A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray/File Photo Acquire Licensing RightsDec 5 (Reuters) - A look at the day ahead in Asian markets. The relative U.S. interest rate outlook right now fits the weaker dollar narrative - futures markets have the Fed cutting rates next year more than any major or emerging market central bank. And even if the Fed does go that far, other central banks are sure to lower their policy rates more than markets are currently predicting. Here are key developments that could provide more direction to markets on Tuesday:- Australia interest rate decision- Japan - Tokyo inflation (November)- South Korea inflation (November)By Jamie McGeever Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Michele Bowman's, Philip Lowe, Jamie McGeever, Josie Kao Organizations: Reserve Bank of Australia, REUTERS, Reserve Bank of, Reuters, Bank of Japan, U.S, Thomson Locations: Sydney, Australia, Japan, South Korea, Asia, masse, Tokyo

A man looks at an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average outside a brokerage in Tokyo, Japan October 4, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsNov 28 (Reuters) - A look at the day ahead in Asian markets. Volatility across major asset classes is low - implied volatility on Wall Street is at its lowest in almost four years, global currency implied vol is the lowest since early last year, and U.S. bond vol is at a two-month low. China's markets, especially, have lagged, although Japanese stocks have outperformed thanks to the weak yen and a historic loosening of wider financial conditions. The Aussie on Monday rose above $0.66 for the first time since Aug. 10 and was one of the biggest winners among major currencies along with the Japanese yen and New Zealand dollar.

Persons: Issei Kato, Goldman Sachs, Michele Bullock, Bullock, Philip Lowe, Bullock's, Fed's Waller, Bowman, Goolsbee, Barr, Jamie McGeever Organizations: U.S ., Nikkei, REUTERS, Reserve Bank of Australia, Hong Kong Monetary Authority, Bank for International, New Zealand, Bank of, RBA, Thomson, Reuters Locations: Tokyo, Japan, U.S, Asia, Hong Kong, Bank of Japan, Australia

☆ Australia's first female central bank chief set to tackle reforms and cost of living crisis
▼ + stars: | 2023-09-18 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Australia’s new central bank chief, Michele Bullock, took the helm Monday after a firestorm of criticism over rising living costs engulfed the tenure of her predecessor. Philip Lowe, former governor of the Reserve Bank of Australia, speaking in Canberra in August. “Raising interest rates is never popular, but I think given the circumstances, the Reserve Bank had to do something,” noted Oliver. Within the bank, Lowe also faced questions about the culture he’d fostered since taking over in 2016. Should prices fall more slowly than expected, the central bank would face similar pressure to raise rates, Oliver predicted.

Persons: Hong Kong CNN —, Michele Bullock, Bullock, Philip Lowe, Shane Oliver, ”, would’ve, wasn’t, Lowe, Oliver, Rohan Thomson, RBA, Nick McKim, ” McKim, “ It’s, ” Oliver, disempowered, ” Bullock, ” Lowe, — Hilary Whiteman Organizations: Hong Kong CNN, Reserve Bank of Australia, AMP, CNN, Bloomberg, Getty, Reserve Bank Locations: Hong Kong, Australian, Canberra, Ukraine, Australia, United States, Europe

☆ Bullock takes over at Australia central bank with soft landing in sight
▼ + stars: | 2023-09-17 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

[1/3] Incoming RBA Governor Michele Bullock delivers the Sir Leslie Melville Public Lecture at the Australian National University in Canberra, Australia, August 29, 2023 in this handout image. The Reserve Bank of Australia (RBA) has been on hold for three months after raising interest rates aggressively for more than a year. The tightening has slowed Australia's growth, but analysts think the economy could still achieve a soft landing. If Australia avoids recession and delivers a soft landing, history may judge outgoing Governor Philip Lowe more kindly. In the search to replace Bullock as deputy, Chalmers has indicated the government is looking at candidates inside and outside the central bank.

Persons: Michele Bullock, Leslie Melville, Tracey Nearmy, Bullock, it's, Cherelle Murphy, Philip Lowe, Lowe, Jim Chalmers, Chalmers, Stephen Halmarick, Stella Qiu, William Mallard Organizations: Australian National University, ANU, REUTERS, Rights, Reserve Bank of Australia, EY Oceania, Commonwealth Bank of Australia, Thomson Locations: Canberra, Australia, Handout, New Zealand, Germany, Europe's, COVID

☆ Crunch time after string of aggressive central bank rate hikes
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +5 min

Major central banks have confounded economists with a string of interest rate rises that, so far, have moderated inflation without causing global recession. So far, nine developed economies have raised rates by a combined 3,915 bps in this cycle. Reuters Graphics2) NEW ZEALANDThe Reserve Bank of New Zealand lifted its cash rate to a 14-year high of 5.5% in May and has kept it there since. Reuters Graphics7) AUSTRALIAThe Reserve Bank of Australia kept rates steady at 4.1% for a third consecutive meeting in September, the last under former Governor Philip Lowe. Reuters Graphics10) JAPANThe Bank of Japan, the world's most dovish major central bank, meets next week.

Persons: BoE, Macklem, Philip Lowe, Lowe's, Michele Bullock, Naomi Rovnick, Harry Robertson, Samuel Indyk, Nell Mackenzie, Alun John, Yoruk Bahceli, Chiara Elisei, Vincent Flasseur, Sumanta Sen, Pasit, Dhara Ranasinghe, Sharon Singleton Organizations: European Central Bank, U.S . Federal Reserve, UNITED, Reuters, Federal Reserve, Reserve Bank of, BRITAIN, of England, CANADA Bank of Canada, Bank of Canada, ECB, Norges Bank, SWEDEN Traders, Swiss, Bank of Japan, Thomson Locations: U.S, Japan, Reserve Bank of New Zealand, NORWAY, Reserve Bank of Australia, SWEDEN, Swedish, SWITZERLAND Swiss, JAPAN

☆ Morning Bid: Global business splutters, dollar surges
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +4 min

But the U.S. jobs picture underscores the "soft-landing" consensus - something Tuesday's updates on global business surveys from last month suggest may not be the case elsewhere. Even though messy workouts of China's ongoing property bust were some relief - as real estate giant Country Garden made some last minute dollar bond payments - the funk in the wider economy clearly persists. That saw the euro fall back against the dollar to levels not seen since mid-June. But that provided little solace to sterling , which was also pummelled by the dollar to its lowest since June. The sour business polls took some heat out of the recent oil price rebound , but did little to calm the long end of the bond market.

Persons: Dado Ruvic, Mike Dolan, disinflation, Philip Lowe, Glazer, Luis de Guindos, Isabel Schnabel, Hugh Lawson Organizations: REUTERS, U.S, Reserve Bank of Australia, Stock, Wall, English football, Manchester United, Sunday, Central Bank, ECB, Treasury, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Europe, China

☆ Take Five: A September to remember?
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. 1/ SCARY SEPTEMBERNow the Federal Reserve's Jackson Hole confab is over, investors are strapping in for a potentially volatile month. Reuters Graphics2/ THE SICK MAN OF EUROPEGermany looks likely to be the only major economy to contract this year. No wonder the region's economic powerhouse is once again being called the sick man of Europe. But economists are sceptical, noting that at just 0.2% of GDP, the package is no game-changer and that the sick man will need more medicine.

Persons: Brendan McDermid, Ira Iosebashvili, Kevin Buckland, Dhara Ranasinghe, Libby George, Naomi Rovnick, Jackson, Jerome Powell, Olaf Scholz, Xi Jinping, Philip Lowe, Michele Bullock, BoE, Amanda Cooper, John Stonestreet Organizations: New York Stock Exchange, REUTERS, Federal, Reuters, ECB, Germany's, Reserve Bank of Australia, Traders, Bank of, British Retail Consortium, Reuters Graphics, Thomson Locations: New York City, U.S, Ira, New York, Tokyo, London, Germany, Europe, Pakistan, Sri Lanka, Ghana, Zambia, Delhi, China, Bullock, Bank of England, Halifax

☆ Build up not out: the high density housing push for Australian cities
▼ + stars: | 2023-08-31 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

Mahendran has joined the Sydney YIMBY (Yes In My Backyard) group, a fledgling grassroots movement seeking higher density housing in opposition to those branded NIMBYs (Not In My Backyard) that fight new and large developments, particularly in gentrified inner-city areas. For a continent as large and sparsely populated as Australia, it is almost counter-intuitive there could be a housing shortage. While the YIMBY movement is in its infancy in Australia, it marks a shift in community attitudes towards development as affordability worsens and a push for shorter commutes and better facilities become features of post-pandemic urban living. "The future is up by way of density," said Liz Allen, a researcher at Australian National University in Canberra. Greater Canberra, the YIMBY group in Canberra, has received support from both Labor and Greens for its push to lift density across the Australian Central Territory.

Persons: Stella Qiu, Mahendran, Sydney YIMBY, Liz Allen, Justin Simon, they've, Simon, Philip Lowe, Lowe, Anthony Albanese, Albanese, Simon Welsh, Lincoln Organizations: REUTERS, Rights, Sydney, New South, New South Wales Productivity, Australian National University, Reuters, Labor, Greens, Australian Central Territory ., Senate, Redbridge, Thomson Locations: Parramatta, Sydney, today's Australia, Australia, New South Wales, Canberra, Greater Canberra, May, Victoria

☆ Asia stocks drop to month low as US CPI fails to enthuse
▼ + stars: | 2023-08-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The yen touched a six-week low of 144.89 per dollar in early trade, though volumes were thinned owing to a public holiday in Japan. Its stock markets were closed and Treasuries went untraded in the Asia session. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7% with stocks in Hong Kong and China the biggest drag. Headline U.S. CPI was 0.2% last month, the same as a month earlier, and the details were encouraging - with core goods inflation slowing down and only rents proving stubbornly sticky. DOLLAR GAINSIn foreign exchange markets, choppy trade in the wake of the inflation data left the dollar on course for a weekly gain.

Persons: Issei Kato, Treasuries, Mary Daly, Andrew Lilley, Philip Lowe, Nozomu Ogawa, Sally Auld, JB, There's, HSI, Tom Westbrook, Muralikumar Anantharaman Organizations: REUTERS, SYDNEY, Headline U.S, CPI, San Francisco Fed, Yahoo Finance, Daiwa, Markets, HK, Chevron, Brent, Thomson Locations: Tokyo, Japan, U.S, Asia, Pacific, Hong Kong, China, Sydney, New York, Australia

☆ Dollar steady after CPI data bolsters Fed pause bets; yen nears 145
▼ + stars: | 2023-08-11 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. "Market pricing currently favours a pause, but the market has underpriced the Fed’s actions before," Brandham cautioned. The Australian dollar rose 0.20% to $0.6534.

Persons: Florence Lo, Ryan Brandham, Brandham, Philip Lowe, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: U.S, REUTERS, Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia, Thomson Locations: SINGAPORE, Japan, U.S, Singapore

☆ Dollar steady after CPI data bolsters Fed pause bets, yen nears 145
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen and U.S. 100 dollar banknotes are arranged for a photograph in Tokyo, Japan, on Sept. 7, 2017. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. The Australian dollar rose 0.20% to $0.6534. Sterling was last at $1.2684, up 0.07% on the day, looking to snap its three-day losing streak ahead of GDP data.

Persons: Ryan Brandham, Brandham, Philip Lowe, Sterling Organizations: Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia Locations: Tokyo, Japan, U.S

☆ Morning Bid: Bonds droop as inflation cheer fades
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 1, 2023. Perhaps ask your friendly bond dealer, as traders in the world's deepest market quickly got over their excitement at steadying inflation, which held at 0.2% month-on-month. Yields went up along the curve, even if markets took the risk of another rate hike next month down a little. Yet the U.S. dollar held gains made overnight and took the yen back near levels that prompted intervention last year. Stocks there were back under pressure during Friday, with Alibaba (9988.HK) handing back gains on its solid result and property stocks sliding.

Persons: Tom Westbrook, Stocks, Treasuries, Joe Biden, Philip Lowe, Michelle Bullock, Jacqueline Wong Organizations: REUTERS, Staff, U.S ., HK, Chevron, PPI, Thomson Locations: Frankfurt, Germany, Asia, untraded, Tokyo, China, HK, Australia, Woodside, WDS.AX, Europe, joblessness

☆ Australia holds rates steady, might be done tightening
▼ + stars: | 2023-08-01 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Markets had leaned toward a steady outcome given recent data showed inflation had eased for a second quarter and consumer spending was softening. However, economists were more split on the outcome, with 20 out of 36 polled by Reuters expecting a hike. Swaps now implied a risk of around 13 basis points of tightening by year end. In a relief for policymakers, headline inflation slowed more than expected in the second quarter while retail sales posted their biggest fall this year in June. "While the RBA retains a tightening bias, we expect the hurdle to another rate hike is high.

Persons: Philip Lowe, Lowe, Michele Bullock, Belinda Allen, Goldman Sachs, Hebe Chen, Stella Qiu, Wayne Cole, Anisha Sircar, Sam Holmes Organizations: SYDNEY, Reserve Bank of Australia, Reuters, Commonwealth Bank of Australia, CBA, National Australia Bank, IG, Reuters Global Markets, Thomson

☆ Australia's central bank leaves rates unchanged at 4.1%
▼ + stars: | 2023-08-01 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

The Reserve Bank of Australia held interest rates at 4.1% for a second month on Tuesday as the central bank buys time to assess the impact of previous hikes, while warning of further hikes in the future. Economists were divided on whether the Australian central bank would raise interest rates at this meeting, with a slim majority expecting a 25-basis point hike. "The higher interest rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so," Governor Philip Lowe said in a statement. "In light of this and the uncertainty surrounding the economic outlook, the Board again decided to hold interest rates steady this month. This will provide further time to assess the impact of the increase in interest rates to date and the economic outlook," he added.

Persons: Philip Lowe Organizations: Opera, The Reserve Bank of Australia Locations: Sydney, Australia, Australian

☆ Big central banks hike again with end in sight
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +5 min

To date, nine developed economies have raised rates by a combined 3,840 basis points (bps) in this cycle. Expectations for a big rate increase have eased after latest data showed inflation fell to a softer-than-expected 7.9% in June. Markets think there's a 50% chance of a 25 bps increase in September, and an equal chance of a hold. Reuters Graphics10) JAPANThe Bank of Japan, the world's most dovish major central bank, concludes a two-day meeting on Friday. The central bank is leaning towards keeping the dial set to dovish, Reuters reported last week.

Persons: Jerome Powell, BoE, Philip Lowe's, Michele Bullock, Riksbank, Kazuo Ueda, Nell Mackenzie, Alun John, Naomi Rovnick, Harry Robertson, Chiara Elisei, Vincent Flasseur, Sumanta Sen, Pasit, Sharon Singleton Organizations: UNITED, Federal Reserve, ZEALAND, Reserve Bank of New, Reuters, BRITAIN, Bank of England, Bank of Canada, BoC, European Central Bank, Norges Bank, bps, Swiss National Bank, Markets, Bank of Japan, Thomson Locations: Japan, Reserve Bank of New Zealand, AUSTRALIA, NORWAY, Norway, SWEDEN, SWITZERLAND, JAPAN

☆ Australia expects unemployment rate to rise as global economy slows
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, July 16 (Reuters) - Australian Treasurer Jim Chalmers said on Sunday that he expected the nation's jobless rate to lift from near a 48-year low on the back of higher interest rates and slowing global growth. The Reserve Bank of Australia (RBA) has said the jobless rate would need to rise to about 4.5% - still well below pre-pandemic levels - to bring the economy back into balance. Unemployment was expected to lift "a bit as the economy slows as a consequence of higher interest rates and global economic uncertainty", Chalmers said ahead of attending a meeting of Group of 20 (G20) finance ministers and central bankers in India with outgoing RBA Governor Philip Lowe. The RBA this month kept the cash rate at an 11-year high of 4.10%, having lifted rates by 400 basis points since May last year, but warned that further tightening might be needed. Reporting by Sam McKeith in Sydney; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Chalmers, Chalmers, Philip Lowe, Sam McKeith, Jamie Freed Organizations: SYDNEY, Bank, Treasury, Australian Broadcasting Corp, Reserve Bank of Australia, Australian Bureau, Statistics, Thomson Locations: India, Sydney

☆ Australia upbeat on global tax talks at G20 in India
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +2 min

[1/2] Workers work to install a hoarding board near the venue of G20 Finance Ministers and Central Bank Governors meeting at Gandhinagar in Gujarat, India July 13, 2023. REUTERS/Amit DaveSYDNEY, July 15 (Reuters) - Australian Treasurer Jim Chalmers expressed optimism on Saturday about progress on a long-awaited overhaul of global corporate taxation at a meeting of Group of 20 (G20) nations in India. More than 140 countries were supposed to start implementing next year a 2021 deal overhauling decades-old rules on how governments tax multinational corporations. The rules are widely considered outdated as digital giants like Apple or Amazon can book profits in low-tax countries. The second pillar calls on governments to end competition on tax rates between governments to attract investment, by setting a global minimum corporate tax rate of 15% from next year.

Persons: Amit Dave SYDNEY, Jim Chalmers, Chalmers, Philip Lowe, Sam McKeith, William Mallard Organizations: Ministers, Central Bank Governors, REUTERS, ABC, Reserve Bank of Australia, Thomson Locations: Gandhinagar, Gujarat, India, Sydney

☆ Australia picks first female central bank head to shepherd through reform
▼ + stars: | 2023-07-14 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

Lowe will leave on Sept. 17, marking the end of his 43-year career at the bank. The decision comes as Lowe is due to accompany Chalmers to a Group of 20 meeting in India next week. "Michele Bullock will become the first woman to ever lead the Reserve Bank in this country." His two predecessors, again both career central bankers, were reappointed to second terms and each served 10 years in total. "The Reserve Bank is in very good hands as it deals with the current inflation challenge and implementing the recommendations of the Review of the RBA," Lowe said in a statement on Friday.

Persons: Michele Bullock, Governor Bullock, Philip Lowe, Jim Chalmers, Anthony Albanese, Lowe, Chalmers, Bullock, Tony Sycamore, She’s, Wayne Cole, Renju Jose, Praveen Menon Organizations: SYDNEY, Reserve Bank of Australia, Reserve Bank, Bank, London School of Economics, IG Group, Aussie, Thomson Locations: Australia, India, Sydney, Lincoln

SYDNEY, July 14 (Reuters) - Reserve Bank Deputy Governor Michele Bullock will take over from Governor Philip Lowe in September and has already flagged that leading the country's central bank through a period of change will be a major priority. Bullock, the first woman to helm the country's central bank, will have the task of leading the bank through its biggest internal shakeup in decades while also maintaining the fight against inflation. "I wasn't sure I would ever be in this position," Bullock said in a 2022 interview with her alma mater. "I never thought that Guy Debelle, who was the deputy governor, would leave the Bank. A review into the central bank published in April recommended sweeping changes including the setup of a separate specialist board to manage monetary policy, less frequent meetings and more public communication.

Persons: Michele Bullock, Philip Lowe, Bullock, Anthony Albanese, Jim Chalmers, Michele, Jonathan Kearns, Bullock's, Guy Debelle, Lowe, Su, Lin Ong, Lewis Jackson, Stella Qiu, Praveen Menon Organizations: SYDNEY, Reserve Bank, University of New, London School of Economics, Challenger, RBC Capital Markets, Thomson Locations: University of New England, Armidale, Sydney, Lincoln

☆ Australia govt appoints Michele Bullock as next central bank governor
▼ + stars: | 2023-07-14 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

SYDNEY, July 14 (Reuters) - Australian Treasurer Jim Chalmers on Friday said he would not reappoint the country's central bank chief to another term, instead replacing him with his deputy Michele Bullock. Chalmers and Prime Minister Anthony Albanese said Reserve Bank of Australia (RBA) Governor Philip Lowe would leave the bank after finishing his current seven-year term on Sept. 17, marking the end of his 43-year career. "Michele Bullock will become the first woman to ever lead the Reserve Bank in this country." The central bank has since lifted rates 12 times to a decade-high of 4.1%, adding hundreds of dollars to monthly mortgage repayments at a time when a cost of living crisis is already stretching household budgets. His two predecessors, again both career central bankers, were reappointed to second terms and each served 10 years in total.

Persons: Jim Chalmers, Michele Bullock, Chalmers, Anthony Albanese, Philip Lowe, Bullock, Lowe, Wayne Cole, Renju Jose, Leslie Adler, Jamie Freed Organizations: SYDNEY, Bank of Australia, Reserve Bank, Thomson Locations: Sydney, Lincoln

☆ New Aussie central bank boss faces two-front war
▼ + stars: | 2023-07-14 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

MELBOURNE, July 14 (Reuters Breakingviews) - Michele Bullock cannot count on a honeymoon period when she takes over at the Reserve Bank of Australia in September. The country’s Treasurer Jim Chalmers on Friday unveiled her appointment as the central bank’s first female governor after deciding not to extend gaffe-prone Philip Lowe’s seven-year tenure. By the time she steps up, Bullock, currently deputy governor, will probably face an economic war on two fronts. Lowe is a fall guy for the failure by global central banks to take rising prices seriously following the pandemic. Follow @AntonyMCurrie on TwitterCONTEXT NEWSMichele Bullock will be the next governor of the Reserve Bank of Australia, the country’s Treasurer Jim Chalmers announced on July 14.

Persons: Michele Bullock, Jim Chalmers, Philip Lowe’s, Bullock, Lowe, Chalmers, Philip Lowe, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Reserve Bank of Australia, Consumer, Thomson Locations: Australia

☆ Australia appoints Michele Bullock as next central bank governor
▼ + stars: | 2023-07-14 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Australia has appointed Michele Bullock as the ninth governor of the Reserve Bank of Australia, the country's Treasury announced July 14. Australia has appointed Michele Bullock as the ninth governor of the Reserve Bank of Australia, the country's Treasury said Friday. Bullock, currently deputy governor of the central bank, becomes the first woman to lead the Australian central bank in its 63-year history, the Australian Treasury said in a statement. "I am committed to ensuring that the Reserve Bank delivers on its policy and operational objectives for the benefit of the Australian people." The RBA is Australia's central bank and banknote issuing authority.

Persons: Michele Bullock, Bullock, Philip Lowe, Lowe, Jim Chalmers Organizations: Reserve Bank of Australia, country's Treasury, Treasury, Australian Treasury, Reserve Bank Locations: Australia, Australian

☆ Australia's central bank loses chief to public ire over rates
▼ + stars: | 2023-07-14 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

Lowe's dedication to the bank is not in doubt, having joined straight from school in 1980. The first mainly impacted markets while the second, and more fateful, soured sentiment with the public and politicians. A later review found the event had caused the bank "reputational damage" and the policy was unlikely to be used again. Lowe's mistake in 2021 was to be too specific on timing by repeatedly saying rates were unlikely to rise until 2024. With prices rising rapidly, Lowe was forced to reverse course and hike rates in May, a whole two years earlier than forecast.

Persons: Philip Lowe it's, Lowe, I'm, we'd, Jim Chalmers, Chalmers, Lowe's, Michele Bullock, Bullock, Wayne Cole, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, MIT, Reserve Bank, Thomson Locations: Australia, Lincoln

☆ Australia cabinet will soon decide on next RBA governor - treasurer
▼ + stars: | 2023-07-12 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, July 12 (Reuters) - Australia Treasurer Jim Chalmers said on Wednesday the cabinet would meet soon to decide the next governor of the country's central bank, after local media reported that a government decision could be reached as early as this week. "Soon, I'll be taking to cabinet my recommendation for the appointment of the governor of the reserve bank. I don't want to front-run or pre-empt the timing or nature of that conversation with my colleagues," Chalmers told reporters. Chalmers added that the government has also held preliminary discussions with the opposition over the next RBA governor. But again, I don't want to pre-empt the conversation with my cabinet colleagues," Chalmers told ABC Radio.

Persons: Jim Chalmers, Chalmers, Philip Lowe's, Lowe, We've, Governor Lowe, Michele Bullock, Jenny Wilkinson, Renju Jose, Edmund Klamann Organizations: SYDNEY, Bank of Australia, Sydney Morning Herald, ABC Radio, Thomson Locations: India, Sydney

☆ RBA's Lowe says it remains to be seen if more tightening needed
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

Speaking in Brisbane, Lowe said there has been a "significant and rapid" tightening and the rate-setting policy board is very conscious that policy operates with a lag, with the full effects yet to be felt. "It takes time for households and businesses to adjust their spending and investment plans, and there are still significant resets of low fixed-rate loans to come," said Lowe. Markets expect that the central bank may have to hike two more times to tame inflation. "Whether or not this (further tightening) is required will depend on how the economy and inflation evolve," Lowe said. From 2024, the RBA will meet eight times a year, compared with 11 times currently, with meetings set to last longer than currently, Lowe said.

Persons: Philip Lowe, Lowe, Jim Chalmers, Stella Qiu, Muralikumar Anantharaman, Edmund Klamann Organizations: SYDNEY, The Reserve Bank of Australia, SEA, Thomson Locations: Brisbane

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