Did you know Michele Bullock is an economist from Australia? This piece lets you know Michele Bullock’s salary, monthly income and other information you need. But then, who is Michele Bullock?
Salary
Michele Bullock h as an average salary of $400,000.
Life & career
Michelle Bullock is Australia’s next Reserve Bank governor. She is the first woman to become Reserve Bank governor. Her tenure will starts will in September 2023 at a time when much of the bank’s work in fighting inflation will be done, and its focus will be on changing the way it operates.
Bullock was appointed as deputy governor on April 2, 2022. She is Deputy Chair of the Reserve Bank Board and Deputy Chair of the Payments System Board and a member of Chief Executive Women (CEW). Prior to her current role, Bullock was the Assistant Governor (Financial System).
She also held a variety of senior management positions in the Bank. She was Assistant Governor (Business Services), Assistant Governor (Currency), Adviser for the Currency Group and, before that, Head of the Payments Policy Department.
She’s already the deputy governor, having been appointed to that post by the previous treasurer, Josh Frydneberg, in April last year. Both Treasurer Jim Chalmers and Prime Minister Anthony Albanese say she’s the right person to implement recommendations of the independent review of the bank intended to make it less insular and more open to outside perspectives.
She is a 38-year veteran of the banking sector, having joined in 1985, she could be seen as perhaps another insider. But in another way she’s an outsider, having been in positions outside of the core economic policy group since 1998, and only being on the RBA’s board for the past year.
In those 25 years, Bullock has worked as either assistant governor or head of the parts of the bank that deal with the payments system, the financial system, business services, and the issuing of currency.
Not being part of the group that helped make the interest rate decisions for which the bank has come under scrutiny makes her well-placed to do things differently. Michele Bullock was raised in regional New South Wales and studied economics at high school and the University of New England, graduating with honors.
She inherits an organization criticized in this year’s independent review for being “insular” and vulnerable to “group thinks”, and for encouraging mortgage holders to believe it would not be increasing rates shortly before it began a series of 12 near-consecutive rate increases in May 2022.
Positions
1985–1998 Reserve Bank of Australia; various positions in Economic Group and International Department
1998–2007 Chief Manager, Payments Policy Department
2007–10 Head of Payments Policy Department
2010 Adviser, Currency Group
2010-2015 Assistant Governor (Currency)
2015-2016 Assistant Governor (Business Services)
2016-2022 Assistant Governor (Financial System)
September 2023-present Reserve Bank Governor
Annual income
Michele Bullock’s salary per month and other career earnings are over $1 million dollars annually. She has no loan from a bank.
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