Australia central bank chief to appear before parliament on Sept. 22
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SYDNEY (Reuters) - The newly appointed governor of the Reserve Bank of Australia (RBA), Philip Lowe, will appear in Sydney before a parliamentary economics committee on Sept. 22, his first official appearance as chief.
The House of Representatives Standing Committee on Economics said Lowe would appear between 0000 GMT (08:00 p.m EDT) and 0300 GMT (11:00 p.m. EDT).
The head of the central bank appears before the committee twice a year to answer questions on the economy and monetary policy. A career central banker, Lowe has just taken over from Glenn Stevens who spent a decade in the top job.
The outlook for interest rates is likely to be high on the agenda after the RBA cut in August and May, taking its cash rate to a record low of 1.5 percent.
Markets are pricing in around a one-in-three chance of another easing by year end, perhaps in November after the release of inflation figures for the third quarter.
It was surprisingly weak readings on inflation in the first and second quarters that prompted the rate cuts in May and August.
Also on the agenda will be the state of the economy. Recent data showed gross domestic product (GDP) grew 3.3 percent in the year to June, the fastest pace in four years and marking a quarter of a century without a recession.
It will also be the first appearance as deputy governor for Guy Debelle, who was recently appointed to succeed Lowe. Debelle is also a career RBA official who used to head the bank's financial markets division.
(Reporting by Wayne Cole; Editing by Shri Navaratnam)
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