Philip Lowe will reportedly not be reappointed as Reserve Bank of Australia governor, amid criticism over the current cost of living crisis.
Cabinet is expected to meet on Friday morning to decide on Mr Lowe’s reappointment, the ABC reported.
Treasurer Jim Chalmers is expected to announce Mr Lowe’s replacement soon after the decision.
ABC reported Mr Chalmers had been consulting for months on the decision, with cabinet expected to opt for change.
Three people are considered favourites to step into the role:
- Deputy Reserve Bank Governor Michele Bullock,
- Treasury Secretary Steven Kennedy
- Finance Department Secretary jenny Wilkinson.
Deputy Prime Minister Richard Marles refused to comment on the ABC’s reported on the Today Show.
Opposition leader Peter Dutton urged leaders to chose a non-political candidate for the role, and not a public servant.
More to come
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