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Resignation: Deputy Governor

Summary:
Deputy Governor, Guy Debelle, announced today that he was resigning from the Bank, effective Wednesday, 16 March. Dr Debelle will be taking up the position of Chief Financial Officer of Fortescue Future Industries in June. He said: ‘I am honoured and privileged to have worked at the Bank for the past 25 years and contributed to improving the welfare of the Australian people. The Bank is a great institution which serves Australia well, including most recently through the policy response to COVID which has helped the country come through the crisis in a strong position. I have often spoken about the opportunities for business to help address climate change. This new position gives me the opportunity to make a significant

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Deputy Governor, Guy Debelle, announced today that he was resigning from the Bank, effective Wednesday, 16 March.

Dr Debelle will be taking up the position of Chief Financial Officer of Fortescue Future Industries in June. He said: ‘I am honoured and privileged to have worked at the Bank for the past 25 years and contributed to improving the welfare of the Australian people. The Bank is a great institution which serves Australia well, including most recently through the policy response to COVID which has helped the country come through the crisis in a strong position. I have often spoken about the opportunities for business to help address climate change. This new position gives me the opportunity to make a significant contribution in this area’.

Governor Philip Lowe said: ‘I would like to thank Guy for his outstanding service to the RBA over many years. He has made major contributions to monetary policy, to financial market operations and to the management of the Bank. Guy has been a great colleague and I wish him all the best in his new position’.

The new Deputy Governor will be appointed by the Treasurer of Australia.

Reserve Bank Australia
The Reserve Bank of Australia (RBA) came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. The bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions. It currently consists of the Payments System Board, which governs the payments system policy of the bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.

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