The Deputy of failed RBA governor Phil Lowe, Michele Bullock, has now been appointed new governor to reform her own failings.
Thus, we have the 2IC to the failure appointed as the successor.
Brace for reems of articles pontificating about Australia’s first female governor to hide the RBA’s failures.
This appointment is pure symbolism over substance.
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The Albanese Government should have opted for a genuine reformer from outside the system, preferably from overseas.
This is the reform you get when the government wants to maintain the status quo.
If the RBA’s failing were material enough to prompt a review and reform process, why put the 2IC in charge?
The government has basically said the whole process is a sham.
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