Australia's Deputy Governor to take the top job

Reserve Bank of Australia's Deputy Governor Philip Lowe is set to take the central bank's top job in September, replacing Glenn Stevens as governor.

Bloomberg, reporting on the appointment:

... opting for the Reserve Bank of Australia deputy fell in with a long pattern of appointments from within the central bank. Unlike counterparts in the U.K. or U.S., Australia’s central bank has almost never seen an outsider put in charge of monetary policy.

In many countries these days, internal candidates have become the favoured pick for central bank governors. Also in Ghana, Turkey as well as in Malasia, one of the deputy governors was promoted earlier this year to take the top central banking job.