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06.05.2016 21:19

Reserve Bank of Australia Deputy Governor Philip Lowe will be next governor of the central bank

The Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe will be next governor of the central bank. He will replace Glenn Stevens. Steven's term ends in September.

Lowe is deputy governor since early 2012.

"It is a superb appointment. There could be no one better qualified than Phil Lowe to lead the Bank through the next seven years. The Bank will be in the very best of hands," Stevens said.

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