Instant View: Australia govt appoints Michele Bullock as next RBA governor

SINGAPORE (Reuters) – Australia on Friday appointed Michele Bullock as the next central bank governor, replacing Philip Lowe.

Reserve Bank of Australia (RBA) Governor Lowe’s (NYSE:) current seven-year term is due to finish on Sept. 17, and will now mark the end of his 43-year career at the bank.

COMMENTS:

RODRIGO CATRIL, SENIOR FX STRATEGIST, NAB, SYDNEY:

“It’s continuity, and in that regard continuity probably means a cautious approach to further hikes from here is likely.

“The question mark is adoption of the recommendations from the review, which included the idea of targeting the middle of the (inflation) band, rather than just the top.

“It remains to be seen how she would interpret that. But not having an external appointment – clearly it plays to the view that only a gradual change can be expected.”