Australia’s central bank says it will be led by a woman for the first time since it was founded in 1960.
Michele Bullock will succeed Philip Lowe, who is coming to the end of a seven-year term as governor of the Reserve Bank of Australia (RBA).
Her appointment comes as the country has been battling rising prices and the RBA is facing a major shakeup.
It has raised interest rates to their highest level in over a decade in a bid to tackle inflation.
The Australian financial services industry is male-dominated and has one of the nation’s widest gender pay gaps.
Ms Bullock, who is currently the RBA’s deputy governor, is due to start her seven-year term as governor on 18 September.
Ms Bullock has been described as an RBA insider, having joined the central bank as an analyst nearly four decades ago.
The future is a woman!!