Bullock's High-Stakes Interest Rate Revolution
Reserve Bank governor Michele Bullock has revolutionized the way interest rates are set in Australia, answering nearly 600 questions across 22 press conferences since taking office.
Bullock's tenure began on February 6, 2024, when she warned that the bank was 'not ruling in or out anything' and reflected on how her children had saved for Taylor Swift concert tickets.
Under Bullock, the Reserve Bank has become more transparent, with press conferences now a regular occurrence. However, uncertainty remains a constant theme, with Bullock using the term over 100 times across her press conferences.
In 2025, the bank entered a rate cut phase, reducing interest rates to ease inflation pressures. However, this was short-lived, and by 2026, the Reserve Bank had raised interest rates three times in response to strong underlying inflation.