Under-pressure Reserve Bank Governor Philip Lowe will soon find out whether or not he will be given a second term, Treasurer Jim Chalmers has indicated.
scrutiny over past comments he made and the successive cash rate hikesHis seven-year term is due to expire in September, but there is an option for his contract to be extended, with Mr Chalmers saying he will come to a decision in July.
“It’s now around the middle of the year. I’m in the process of consulting with my cabinet colleagues and with others.”“We will work through it in the usual, methodical, and considered way,” Mr Chalmers said. Mr Lowe apologised for the communication bungle, defending the statements as having included caveats.
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