When Philip Lowe wrapped up the delivery of his final speech as Reserve Bank governor, titled Closing Remarks, he reached into a white bag and pulled out a re-gift for his successor Michele Bullock.
The “Half Full” coffee mug that had been given to him by former governor Glenn Stevens was symbolically handed to Ms Bullock to help her “navigate the uncertainties ahead” and retain a positive disposition as she ascends to the highest office in monetary policy.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
