RBA: Guy Debelle reappointed deputy governor

  • By Elizabeth Fry

Guy Debelle has been reappointed as the Reserve Bank of Australia’s deputy governor for a further five-year term.  

Debelle, who is expected to succeed Philip Lowe when the governor retires from the top job, has been deputy governor and deputy chair of the central bank board since 2016. 

Announcing the reappointment, Treasurer Josh Frydenberg said he had provided strong economic leadership, particularly in helping to steer the board’s response to the coronavirus pandemic.  

Debelle was previously assistant governor for economics at the RBA after joined the RBA in 1994. 

He graduated from the University of Adelaide with a degree in economics. Like Lowe, he received his Ph.D. in economics from the Massachusetts Institute of Technology. 

Debelle has worked at the International Monetary Fund, the Bank for International Settlements, the Australian Treasury, and as a visiting professor in economics at M.I.T.  

He is currently chair of the RBA’s Risk Management and Investment Committees  

Designed FX guidelines 

Debelle is also chair of the Global Foreign Exchange Committee which coordinates standards for operators in the currencies market. The deputy governor was instrumental in designing the guidelines for the FX Code of Conduct issued in 2017. 

The Treasurer also announced the reappointment of Ian Harper as a part-time member of the RBA board for a further five-year period. 

Ian Harper, one of six independent directors on the central bank board, was also reappointed today. Harper’s second five-year term begins at the end of this month. 

“Professor Harper has been a member of the RBA board since 2016 and has made a valuable contribution to the board’s decision-making in supporting the Australian economy,” Frydenberg said.  

Harper is dean and director of the Melbourne Business School and co-dean of the Faculty of Business and Economics at the University of Melbourne. 

“These reappointments maintain the high level of skills and experience of RBA board members, and ensure monetary policy continues to support Australia’s economic resilience and prosperity through the recovery phase of the Covid- pandemic and beyond,” Frydenberg said.