Michele Bullock spells continuity at RBA – but respite unlikely for borrowers

The new chief was one of the board members raising interest rates, but has been brought in to reform the central bank

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When the Albanese government announced Michele Bullock as the next Reserve Bank governor on Friday, few were particularly surprised - and that was the plan.

Sure, the opposition leader, Peter Dutton, got on the front foot the previous day, prematurely warning against choosing a public servant. The treasurer, Jim Chalmers, had shared his shortlist with his shadow, Angus Taylor, but held back Bullock as his pick.

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