Michele Bullock announced as Australia's first female RBA governor – video

Prime minister Anthony Albanese says the accomplished economist' with close to four decades of experience at the Reserve Bank of Australia will replace Philip Lowe as the central bank's ninth governor after his seven-year term ends on 17 September. Treasurer Jim Chalmers hails the history-making appointment' and thanks Lowe for his service, saying: Phil Lowe goes with our respect, he goes with our gratitude and he goes with dignity.' The outgoing governor has overseen 12 interest rate rises in the past 14 months aimed at reining in inflation

• Michele Bullock named as new governor of the RBA and first woman to lead central bank

• It's choking us': how interest rates are forcing Australians to sell their homes

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