The outgoing RBA boss, whose term ends on September 17, said society "had work to do" in how it responds to complex topics that are in the public interest.
Michele Bullock has been named as the next governor of the Reserve Bank of Australia (RBA), to replace outgoing chief Philip Lowe when his term ends on September 17.
Amid mounting criticism over his handling of the nation's cost of living crisis, Liberal Senator Jane Hume has defended Reserve Bank of Australia Governor Phillip Lowe, claiming that he's "only doing his job".
The Reserve Bank of Australia (RBA) has left interest rates on hold at 4.1 per cent, but has warned that more hikes will be needed to contain inflation.
The Reserve Bank of Australia has delivered a shock 12th rate hike since May last year, deciding to lift interest rates in a bid to tackle persistently high inflation.
The central bank revealed in its board meeting minutes prior to announcing its April decision members considered hiking the cash rate again as the beat of inflation remained stubbornly high.
Philip Lowe warned Australians not to become complacent after the central bank decided to pause its relentless interest rate rises at 3.6 per cent in April as there are still economic headwinds ahead.
Borrowers on the precipice of a fixed-rate cliff are facing the difficult decision about whether to shop around for a better rate or wait and see how the economic landscape fares but experts warn the latter could have "costly" consequences.
Borrowers are forecast to become increasingly trapped in their mortgages after Australia's financial regulator decided to keep a high buffer on home loans to prepare for future rate rises.
Philip Lowe has refused to put a limit on how far the Reserve Bank will go to contain inflation, as he faces a grilling by a senate inquiry in Canberra.
Australians are being told to brace for fresh economic pain with the Reserve Bank governor flagging further rises in interest rates to combat inflation.
Australia's next interest rate hike could be halved as property prices dip by at least 10 per cent, the governor of the Reserve Bank of Australia has forecast.
Australia's official interest rate has hit a seven-year high after the nation's central bank decided to increase the cash rate for the fifth consecutive month in a row.
The Reserve Bank of Australia has hiked interest rates for the fourth consecutive month, lifting the nation's cash rate target by 50 basis points to 1.85 per cent.
Economists at Australia's largest bank forecast that property prices could walk back by as much as 10 per cent in 2023 as interest rates rise to a predicted 1.25 per cent.
Now in its 20th year, the AFR Magazine Power List ranked the PM in top spot for his work leading the country during the COVID-19 pandemic and his chairing of the newly-invigorated national cabinet meetings.