It is rare people can point to a single, pivotal, life-changing moment but two events, 30 years apart, have shaped her career.
The fall of the Berlin Wall in November 1989 set in motion a chain of events that shaped the rest of former Reserve Bank assistant governor and Westpac chief economist Luci Ellis’ life.
“I went to the head of the Melbourne University economics department and said, ‘Look, this has happened, I am about to lose my source of income, and I can’t do honours next year without a source of income’,” she recalls. With a decent chunk of the workday still ahead, the adequate wine list is shunned in favour of sparkling water.Ellis previously declined to have Lunch with the AFR – or rather the RBA’s media team had politely declined on her behalf – but a recent professional change made the tête-à-tête more acceptable.
Fortuitously, another once-in-a-generation shift would open the door to her next career opportunity. Bill Evans, Westpac’s legendary chief economist for as long as Ellis had been at the RBA, announced his retirement. “All women will be able to tell you things about presumptions and ‘Oh, we can’t find any women candidates’ or ‘There are no women to present at this conference, sorry, we tried so hard,’” she says. “There is a lot of
They come with catchy titles such as: ‘In a world gone bananas, don’t squash the other fruit’ , and ‘The Laptop Warrior, the Barista and the Governor’ . The RBA was proven wrong on interest rates on the way up, but Ellis feels on the way down that “inflation is unwinding broadly as you’d expect”.. That decision came ahead of a run of softer than expected indicators that promoted questions about whether the increase was a mistake.
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