Prime Minister hints at RBA governor decision time frame

The Prime Minister was speaking in Perth after returning from a trip to Europe where he met NATO world leaders.

The Prime Minister remains tight-lipped over when his cabinet will meet to decide the fate of the Reserve Bank governor.

Anthony Albanese, speaking to radio 6PR in the Perth studio on Thursday straight after flying in from Europe where he attended the NATO summit, was asked if federal cabinet planned to meet on Friday to discuss Philip Lowe’s fate.

The RBA governor’s term expires in September, but the federal government is yet to announce if they intend to keep Mr Lowe at the helm of the body which determines the nation’s official cash rate.

“We have meetings all the time and we will have meetings in the usual way, so it‘s not unusual for us to have meetings when I return [from overseas],” he said.

“We have not made a decision on the governor’s position — it needs to be done before September.”

Anthony Albanese wouldn't be drawn on whether or not cabinet will discuss the RBA Governor's job in meetings on Friday.

His Treasurer Jim Chalmers on Wednesday hinted the meeting about the RBA governor would be held “soon”.

Dr Chalmers and Dr Lowe will be in India on Sunday for the G20 finance ministers and central bankers meeting.

Mr Albanese was in Perth after touching down on return from his European trip to Germany and Lithuania this week.

NATO leaders were meeting to discuss, among other issues, the ongoing Russian invasion of Ukraine, with Australia invited to the table as a guest.

Mr Albanese discussed Ukraine’s request for more Bushmaster military vehicles, saying it’s “a good deal for Australia.”

“We need to make more things [in Australia],” the Prime Minister said.

“They’re [made] in Bendigo, producing jobs … we’re exporting them commercially as well, to Indonesia.”

Ukraine has been criticised by UK Defence Secretary Ben Wallace this week over its continued requests for military aid, saying “we’re not Amazon.”

Asked about the comments, Mr Albanese said Australia would continue to “provide the support we’re best able to.”

“We‘re training Ukrainian soldiers in the UK, we’re providing a [E-7A] Wedgetail (long-range surveillance aircraft),” he said.

“This is a struggle that does require international support, and it is there, but there will always be more demands. I’m not critical of Ukrainians for that; they’re in a war.”

Mr Albanese heads back to Canberra ahead of meetings on Friday.

Originally published as Prime Minister hints at RBA governor decision time frame