The most important reserve bank governor for Australia?

The head of Treasury, Steven Kennedy, is also a member, so the government has three members out of nine.

While the old guard on the board still retains control, it is being gradually eroded, and the government and its allies have a substantial say in what interest rate.

It must be a political dilemma for the chair how she works with people who have invested themselves in what she must regard as bad policy.

Perhaps one side of that is you suggest wages are under control in public pronouncements, while making policy as though they aren't.

Nevertheless, having first been skeptical about the appointment of Ms. Bullock, given that she is an RBA "lifer" who has never worked anywhere else, my first impressions seem to be wrong.

Ms. Bullock might be one of the most important governors of the bank ever.