Bullock says diverse perspectives improve policy decisions
Diverse perspectives strengthen monetary policy decisions, Reserve Bank of Australia (RBA) Governor Michele Bullock said on October 23, 2026. Speaking at the University of New England graduation ceremony in Armidale, she also stressed adaptability to technological change.
People behind the numbers
Bullock said the RBA's parliamentary mandate to promote Australians' prosperity and welfare guides every decision.
Different career paths on its Monetary Policy Board bring better questions, more robust debate and better decisions.
Its business and community liaison program gathers experiences across industries and regions that aggregate data cannot capture.
A visit to the national debt helpline, where she heard counsellors and callers, reinforced that human dimension.
Turning to artificial intelligence, Bullock said its effects on jobs and productivity remain uncertain.
She recalled technology eliminating the RBA's typing pool while creating demand for new skills.
Judgement, integrity, adaptability, collaboration and professional relationships remain valuable, she said.
From Armidale to central banking
Bullock moved from Melbourne to Armidale at 10 and has spent over 40 years in Sydney.
At 17, after finishing school in 1980, she chose UNE economics over medicine at the University of New South Wales following advice from Professor Malcolm Treadgold.
An eight-week RBA cadetship placement and funded honours year preceded her joining full-time in 1985.
She urged graduates to pursue purpose and embrace change.
On October 23, 2026, UNE awarded her its Distinguished Alumni Award and an honorary Doctor of Letters; the Bank for International Settlements published the speech on October 26.
Human judgement stays central
Bullock's message places human judgement at the centre of central banking, rather than treating policy as a purely numerical exercise.
She links diverse experience and community listening to better decisions.
The speech offers career guidance, not a rate decision or a monetary policy outlook.
Source: Purpose, perspective and possibility
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