Philip Lowe

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Philip Lowe
Philip Lowe 2017-01.jpg
Governor of the Reserve Bank of Australia
Assumed office
18 September 2016
Nominated by Scott Morrison
Deputy Guy Debelle
Preceded by Glenn Stevens
Personal details
Born 1961/1962[citation needed]
Wagga Wagga, New South Wales, Australia
Alma mater

Philip Lowe (born 1961/1962)[citation needed] is an Australian economist who is the current Governor of the Reserve Bank of Australia, having succeeded Glenn Stevens on 18 September 2016. He was previously deputy governor under Stevens from February 2012 to September 2016.[1]

Lowe was born in Wagga Wagga, New South Wales,[2] as the eldest of five children in the family.[3] He attended St Michael's High School and Trinity Senior High School.[4] Lowe later moved to Sydney[5] and was hired by the RBA straight out of high school. He was initially employed as a clerical worker in 1980 at the age of 17,[5][6] while completing his undergraduate commerce degree at the University of New South Wales by attending night classes.[7] He was awarded first-class honours and the University Medal on his graduation in 1985.[8] He later completed a doctorate in 1994 at the Massachusetts Institute of Technology (MIT), with Paul Krugman as his adviser.[9]

In 1997, Lowe was appointed head of the RBA's Economic Research Department. He later headed the bank's Financial Stability Department (from 1999 to 2000), the Domestic Markets Department (from 2002 to 2003), and the Economic Analysis Department (from 2003 to 2004). From 2000 to 2002, Lowe worked at the Bank for International Settlements in Switzerland, as head of its Financial Institutions and Infrastructure Division. He was made Assistant Governor (Financial System) at the RBA in 2004, and Assistant Governor (Economic) in 2009, eventually becoming Deputy Governor in 2012.[10] In May 2016, Scott Morrison (the Treasurer of Australia) announced that Lowe would succeed Glenn Stevens at the head of the RBA at the end of his term in September 2016.[11]

He is married and has three children.[7]

References[edit]

  1. ^ Jeans David (5 May 2016). "Reserve Bank of Australia deputy governor Philip Lowe to replace outgoing chief Glenn Stevens". Daily Mail Online. 
  2. ^ "Lowe says Reserve Bank addressing secrecy", The Daily Advertiser, 15 July 2010. Retrieved 9 September 2016.
  3. ^ "From Wagga Wagga to MIT, new RBA chief prepares for tougher test". Business Times. 19 September 2016. 
  4. ^ "Wagga's Philip Lowe new Reserve Bank of Australia governor", The Daily Advertiser, 7 May 2016. Retrieved 9 September 2016.
  5. ^ a b Wade, Matt (6 May 2016). "Philip Lowe: From teen recruit to central bank chief". The Sydney Morning Herald. 
  6. ^ Martin, David (5 May 2016). "RBA names Philip Lowe as next governor". The Sydney Morning Peter. 
  7. ^ a b "Lowe groomed to take over the governor's chair at Reserve Bank". The Sydney Morning Peter. 10 December 2011. 
  8. ^ "Philip Lowe, the new RBA governor, and the global economy puzzle", "Australian Financial Review", Retrieved 13 October 2016.
  9. ^ "Lowe groomed to take over the governor's chair at Reserve Bank", Sydney Morning Herald, 10 December 2011. Retrieved 9 September 2016.
  10. ^ Philip Lowe, Reserve Bank of Australia. Retrieved 9 September 2016.
  11. ^ "RBA names Philip Lowe as next governor", Sydney Morning Herald, 5 May 2016.
Business positions
Preceded by
Glenn Stevens
Governor of the Reserve Bank of Australia
2016–present
Incumbent