- Former Reserve Bank head Philip Lowe has a new job
- He will become chairman of Future Generation Australia
- Will replace former NSW Premier Mike Baird
Former Reserve Bank of Australia governor Philip Lowe has a new job at a philanthropy-focused investment firm.
The 62-year-old economist, who presided over 12 rate hikes in 2022 and 2023, will become chairman of Future Generation Australia, replacing former NSW Premier Mike Baird.
Under his leadership, the RBA cut the cash rate to a record low 0.1 percent in November 2020 and in 2021 he pledged that rates would be maintained until 2024 “at the earliest.”
But interest rates rose in May 2022, marking the first of a dozen rate hikes under his watch, the most aggressive pace of monetary policy tightening since 1989.
Former Reserve Bank of Australia governor Philip Lowe has a new job at a philanthropy-focused investment firm.
