Next Chair of Reserve Bank of Australia: Transition Expected to be Relatively Smooth, Further Rate Hikes Possible

Michelle Brock, Deputy Chair of the Reserve Bank of Australia (RBA), stated today that her transition to becoming the next Chair of the RBA in mid-September is anticipated to be relatively smooth.

Following a speech in Canberra on the policy implications of climate change, she addressed questions from reporters and scholars, emphasizing that the primary task of the RBA is to address persistently high inflation.

She also indicated that further rate hikes might be necessary, but the central bank will assess based on the quality of the data.

Brock mentioned that she will work towards improving the internal culture of the RBA and fostering broader internal debates on policy decisions.