Australia has appointed Andrew Hauser, currently the executive director of markets at the Bank of England (BoE), as the new deputy governor of the Reserve Bank of Australia (RBA). Hauser, a British national with 30 years of experience at the BoE, will fill the position that had been vacant since Michele Bullock was elevated to the top role two months ago. Hauser is expected to commence his five-year term before the first RBA board meeting in the coming year.
In his role at the BoE, Hauser served as the executive director of markets, bringing a wealth of experience to his new position. He holds a master’s degree in economics from the London School of Economics and a degree from Oxford University.
The appointment of an external candidate like Hauser aligns with the Australian government’s efforts to revamp the RBA following a comprehensive review that recommended significant changes.
The government is set to introduce legislation this week to establish a governance board, signaling further changes in the new year. Treasurer Jim Chalmers stated that Hauser’s appointment strikes the right balance between providing deep central banking experience and offering a fresh, global perspective to address current and future economic challenges.
Michele Bullock, the current RBA governor, welcomed Hauser’s appointment, noting his significant experience and the valuable external perspective he brings to the Bank and the Reserve Bank Board.
