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- Former Reserve Bank governor Philip Lowe has got a new job
- He will chair Future Generation Australia
- Will replace former NSW Premier Mike Baird
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Former Reserve Bank of Australia Governor Philip Lowe has a new job at a philanthropy-focused investment firm.
The 62-year-old economist, who led 12 rate hikes in 2022 and 2023, will chair Future Generation Australia, replacing former NSW Premier Mike Baird.
Under his leadership, in November 2020 the RBA cut the cash rate to a record low of 0.1 per cent, and in 2021 he promised that rates would remain on hold until 2024 ‘at the earliest’.
But rates rose in May 2022, marking the first of a dozen hikes on his watch, the most aggressive pace of monetary tightening since 1989.
Former Reserve Bank of Australia Governor Philip Lowe has a new job at a philanthropy-focused investment firm.