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☆ Philip L. Sherman, Who Circumcised Thousands of Babies, Dies at 67
▼ + stars: | 2023-08-15 | by ( Sam Roberts | More About Sam Roberts | ) www.nytimes.com time to read: +1 min

Armed with only a scalpel, a clamp and a metal probe, Philip L. Sherman would routinely carry out his surgical mission in about 15 seconds, leave in as little as 10 minutes and hotfoot it to his car, which was probably parked illegally but perhaps spared a ticket by the inspired placard on his windshield: “Mazel Tov! Bris in progress. Please don’t ticket.”Mr. Sherman, whose website (as well as his vanity license plate) was emoil.com =, claimed to have performed some 26,000 ritual circumcisions, mostly in the New York metropolitan area, during his 45-year career. He was trained in the Jewish religious practice of brit milah — a profession generally spelled “mohel” in English and pronounced “moil.”His record, he said, was 11 in a single day, including two pairs of twins — a considerable scheduling feat, considering that the ritual is to be performed on the eighth day of the baby’s life and during daylight. Mr. Sherman also performed ritual circumcisions on Muslim and Christian infant boys, as well as the son of a man he had circumcised as an infant and the grandsons of two Israeli prime ministers, and in all kinds of places, including Hong Kong, the Cayman Islands and a bar on Third Avenue (for a family who lived upstairs).

Persons: Philip L, Sherman, Mr, brit milah —, ”, —, Hong Kong Locations: New York, Hong, Cayman Islands

☆ Why Britain Needs to Build Again - The New York Times
▼ + stars: | 2023-08-12 | by ( Ross Douthat | ) www.nytimes.com time to read: +2 min

There’ll be books; it will linger onIn galleries; but all that remainsFor us will be concrete and tyres. Larkin wrote these words in 1972. On the basis of a trip through England and Scotland in summer 2023 I can report that his fears were premature. British conservatism, of which Larkin was an eccentric representative, has always had a stronger conservationist streak than its American cousin. The Conservative Party, in power for most of this period, is often blamed for backing post-financial crisis austerity and lurching into Brexit.

Persons: ” Philip Larkin, “, ”, There’ll, Larkin Organizations: Health Service, Conservative Party Locations: England, Scotland, Europe, United States, Britain, Italy, Brexit

☆ 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

☆ Could the curse of Tutankhamun’s tomb be caused by fungi?
▼ + stars: | 2023-08-09 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +7 min

Rumors of a curse have persisted since Howard Carter and others found Tutankhamun's tomb in 1922. But because he'd been present at the opening of Tutankhamun's tomb a few months prior, rumors of a curse started to swirl. But dozens of Egyptian laborers contributed physical and skilled labor to excavate Tutankhamun's tomb. As the decades passed, some scientists wondered if there was something deadly lurking in Tutankhamun's tomb: fungi. Egyptian carpenters prepare to reseal Tutankhamun's tomb with Howard Carter circa 1923.

Persons: Howard Carter, Lord Carnarvon, he'd, King, Carter, Carter's, Tutankhamun, George Herbert , 5th Earl of Carnarvon, LiveScience, Lord Carnarvon's, Susie, Carnarvon, Evelyn Herbert, Harry Burton, Sherlock Holmes, Sir Arthur Conan Doyle, Carnarvon's, Sir Ernest A, Wallis Budge, George Jay Gould, Philip Livingston Poe, Edgar Allen Poe, Richard Bethell, Howard, King Tutankhamun, Apic, Ali Kamel Fahmy Bey, Frank McClanahan Organizations: Service, New York Times, British Museum, Savoy, Harvard University, Hulton, Safety Locations: Wall, Silicon, British, Luxor, Egypt, Cairo, Hampshire, England, London, Aspergillosis

☆ 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

☆ A 'momentous week' ahead as the Fed, ECB and Bank of Japan near pivot point
▼ + stars: | 2023-07-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Bloomberg | Bloomberg | Getty ImagesThe U.S. Federal Reserve, Bank of Japan and European Central Bank will all announce key interest rate decisions this week, with each potentially nearing a pivotal moment in their monetary policy trajectory. The Fed Each central bank faces a very different challenge. "The FOMC will, however, maintain a tight monetary policy stance to aid continued softening in demand and consequently, inflation." Several analysts over the past week have suggested that policymakers will remain "data dependent," but push back against any talk of interest rate cuts in the near future. ECB Chief Economist Philip Lane last month warned markets against pricing in cuts to interest rates within the next two years.

Persons: Goldman Sachs, Michael Cahill, Cahill, Steve Englander, Englander, Philip Lane, Paul Hollingsworth, Christine Lagarde, Hollingsworth Organizations: Bank of Japan, U.S, Bloomberg, Getty, . Federal Reserve, European Central Bank, ECB, Federal, Moody's Investors Service, Standard Chartered, Downside, Fed, BNP, Bank of Locations: U.S, North America, Bank of Japan, Japan

Euro zone interest rates have risen 400 basis points in the last year to 3.5%, their highest in 22 years, and are now close to peaking as headline inflation cools and the economy weakens. 1/ How much will the ECB hike rates? "The ECB will hike again and anything else would be a major surprise," said RBC Capital Markets global macro strategist Peter Schaffrik. Reuters Graphics Reuters Graphics3/ When does the ECB expect core inflation to fall? Euro zone business activity stalled in June as a manufacturing recession deepened and a previously resilient services sector barely grew.

Persons: Silvia Ardagna, Peter Schaffrik, Christine, Lagarde, Massimiliano Maxia, Reinhard Cluse, Ruben Segura, BofA, Philip Lane, BofA's Segura, Naomi Rovnick, Stefano Rebaudo, Vincent Flasseur, Sumanta Sen, Pasit, Kripa Jayaram, Catherine Evans Organizations: European Central Bank, Barclays, ECB, Capital, Reuters, Allianz Global Investors, U.S . Federal, Reuters Graphics Reuters, UBS, Bank, Thomson Locations: Cayuela, Europe, London, Milan

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

☆ Factbox: Potential candidates as next chief of Australia's central bank
▼ + stars: | 2023-07-05 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

SYDNEY, July 5 (Reuters) - The Australian government will announce this month whether it would reappoint Reserve Bank of Australia (RBA) Governor Philip Lowe or replace him. * Michele Bullock, 60, became the first female Deputy Governor of the RBA when she was appointed in the role in April 2022. She studied economics at the University of New England and a masters from the London School of Economics. He studied economics at Sydney University, and completed a PhD in health economics at the Australian National University. He has PhD degrees in physiology from Cambridge University and in economics from the Australian National University.

Persons: Philip Lowe, Michele Bullock, Bullock, RBA, Steven Kennedy, Kennedy, Kevin Rudd, Julia Gillard, Jenny Wilkinson, David Gruen, Wilkinson, Gruen, Martin Parkinson, Guy Debelle, Fortescue, Australia's, Debelle, Andrew, Carolyn Wilkins, Shri Navaratnam Organizations: SYDNEY, Australian, Reserve Bank of Australia, University of New, London School of Economics, Treasury, Labor, Sydney University, Australian National University, government's Department of Finance, Parliamentary, ANU, Princeton, Australian Bureau of Statistics, Cambridge University, Macquarie University, Department of Prime, Adelaide University, Fortescue Future Industries, University of Adelaide, MIT, Bank of Canada, Thomson Locations: University of New England

☆ Australia markets in the dark as clock ticks down on govt choice of RBA chief
▼ + stars: | 2023-07-05 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Markets are still in the dark whether Treasurer Jim Chalmers will reappoint Reserve Bank of Australia (RBA) Governor Philip Lowe or bow to public pressure for a new pair of hands at an institution that stumbled over its policy messaging during the pandemic. "Markets would be more concerned if there wasn't that list," noted Shane Oliver, chief economist at AMP Capital. They are among the front runners in part because there is much pressure for Chalmers to appoint the first female head of the RBA. One dark horse also being mentioned is Guy Debelle, a former RBA deputy governor who resigned last year to join the green energy business of mining billionaire Andrew Forrest. It is possible Chalmers could reappoint Lowe for a shorter period to see out the RBA's current tightening cycle and planned changes in its operation and structure.

Persons: missteps, Jim Chalmers, Philip Lowe, Chalmers, Lowe, Shane Oliver, Michele Bullock, Jenny Wilkinson, Guy Debelle, Andrew Forrest, reappoint Lowe, AMP's Oliver, Wayne Cole, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, Chalmers, Markets, AMP, Thomson

☆ Australia's central bank holds rates, signals more hikes might be required
▼ + stars: | 2023-07-04 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

SYDNEY, July 4 (Reuters) - Australia's central bank on Tuesday held interest rates steady saying it wanted more time to assess the impact of past hikes, but reiterated its warning that further tightening might be needed to bring inflation to heel. Reuters GraphicsIn Tuesday's policy statement, RBA Governor Philip Lowe said that higher interest rates are working to establish a more sustainable balance between supply and demand in the economy. "In light of this and the uncertainty surrounding the economic outlook, the Board decided to hold interest rates steady this month." Global policymakers are still grappling with relatively high inflation despite sweeping rate increases for more than a year. Both the Federal Reserve and the European Central Bank are almost certain to hike by a quarter-point this month, which could pressure an already soft Australian dollar.

Persons: Philip Lowe, Lowe, Stephen Smith, Marcel Thieliant, Reuters Graphics Lowe, Stella Qiu, Wayne Cole, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, Reuters, Deloitte, Capital Economics, Global, Federal Reserve, European Central Bank, Thomson

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