Delay in naming RBA governor empowers some

Important task: A pedestrian walks past the RBA headquarters in the central business district of Sydney. Whoever takes the helm at the RBA will confront stubborn inflation and oversee its biggest reform in decades following an independent review. — Bloomberg

SYDNEY: Australian treasurer Jim Chalmers’ delay in announcing the next Reserve Bank of Australia (RBA) governor may limit his options to local candidates and could even see incumbent Philip Lowe receive an extension, former senior central bank officials, lawmakers and economists say.

Lowe, whose seven-year term expires Sept 17, has faced criticism over his policy guidance and communications, prompting many observers to conclude he won’t be reappointed.