Lowe to govern RBA

Philip Lowe will take over the reins as the governor of the Reserve Bank of Australia when Glenn Stevens retires in September.

Mr Lowe, who currently serves as deputy governor, was announced as Mr Stevens’ successor by Treasurer Scott Morrison today.

“Mr Lowe brings a wealth of knowledge and experience to the role of governor, having served as the RBA deputy governor since 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.

The federal treasurer also announced Ian Harper would replace John Edwards on the RBA’s board.

Mr Stevens has been governor of the RBA for 10 years.