I am pleased to announce the appointment of Dr Guy Debelle as the Deputy Governor of the Reserve Bank of Australia (RBA) for a five-year term from 18 September 2016.
Dr Debelle is an economist of international standing, with a PhD in economics from the Massachusetts Institute of Technology (MIT) and extensive experience at the RBA. Dr Debelle is currently the Assistant Governor (Financial Markets) at the RBA, a position he has held since March 2007. In that role, he has oversight of the Bank’s operations in the domestic and global financial markets, including the management of Australia’s foreign reserves. He also participates as the Bank’s representative in a number of global fora.
Dr Debelle joined the RBA in 1994. He has also worked at the International Monetary Fund, Bank for International Settlements, Australian Treasury and as a visiting professor in economics at the Massachusetts Institute of Technology (MIT). He graduated from the University of Adelaide with an honours degree in economics and gained his PhD in economics at MIT under Stanley Fischer and Rudi Dornbusch. Dr Debelle is well regarded in the central banking community, financial markets and the Australian business community.
As previously announced Dr Philip Lowe, who has served as Deputy Governor since 2012, will commence as the Governor of the RBA on 18 September 2016. I wish to again note my appreciation for Mr Glenn Stevens’ invaluable leadership of the RBA over the past 10 years.
I congratulate Dr Debelle on his appointment and believe the appointments of Dr Lowe and Dr Debelle will reinforce existing confidence in the RBA.
This appointment was made in accordance with the relevant provisions of the Reserve Bank Act 1959. Under section 24 of the Act the Treasurer appoints the RBA Deputy Governor.