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Australian Treasurer appoints Philip Lowe as next central bank governor

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Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe will be the new head of the central bank after current Governor Glenn Stevens retires in September, Treasurer Scott Morrison said on Thursday.

[SYDNEY] Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe will be the new head of the central bank after current Governor Glenn Stevens retires in September, Treasurer Scott Morrison said on Thursday.

"Dr Lowe brings a wealth of knowledge and experience to the role of Governor, having served as the RBA Deputy Governor since early 2012, heading up many of the RBA's analytical departments, and publishing on a wide range of issues relevant to the operation of monetary policy over his three decade career with the RBA," Mr Morrison said in a statement.

Mr Lowe is seen as a safe pair of hands and his appointment is widely expected.

REUTERS