Business leaders believe Treasurer Jim Chalmers will appoint a senior female Canberra mandarin, with a strong Treasury pedigree as the next head of the RBA.
, under the headline: “Is this the most useless man in Australia?”.attendance at a private lunch hosted by investment bank BarrenjoeyThat’s even though Lowe and previous Reserve Bank governors have always found time to have lunch and coffee with bankers, business people, community groups and, yes, financial market traders to stay abreast of various trends in the economy.
Indeed, the smart money is betting that next governor of the Reserve Bank will be a senior female Canberra mandarin, with a strong Treasury pedigree.Names being bandied about include Jenny Wilkinson, a former Treasury deputy secretary who is now secretary of the Department of Finance, and Meghan Quinn, another former Treasury deputy secretary who now heads the Department of Industry, Science and Resources.
The review is being led by Carolyn Wilkins, who was formerly the senior deputy governor of the Bank of Canada, and who now sits on the Bank of England’s financial policy committee as an external member. Last November, Professor Fry-McKibbin said that while Australia’s inflation target had worked well over the past 30 years, she noted there were likely to be supply shocks in future from climate change, energy prices and geopolitical events, so it was worth considering the advantages of a different target such as nominal income, or average inflation.
It’s fair to say that Lowe has long been an irritant both to politicians and to Treasury because he considers it his responsibility to express the bank’s views on critical economic issues.
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