RBA boss gets another three years
Reserve Bank Governor Glenn Stevens has been re-appointed as head of the central bank for another three years.
Treasurer Wayne Swan made the announcement in Canberra today.
Mr Steven's current term was due to end in September.
Mr Swan said the reappointment acknowledged Mr Stevens' contribution to Australia's economic resilience through his oversight of monetary policy.
"He is, in particular, recognised around the world as a key policy maker and one of the best," the treasurer told reporters.
Mr Swan also announced the appointment of businesswoman Kathryn Fagg to the RBA board.
The Melbourne-based senior executive has worked with Linfox, BlueScope Steel and ANZ during her career, which began as a petroleum engineer with Esso Australia.
As well, Paul Costello and Gina Cass-Gottlieb have been appointed to the RBA's payments system board for five-year terms from July 15.
"These key appointments will ensure that our financial system and our economy remain among the strongest in the world," Mr Swan said.
Their appointments come as current RBA board member Jillian Broadbent prepares to retire after 15 years with the central bank.
Meanwhile, Mr Swan announced a new chairman for the Australian Prudential Regulation Authority.
The financial watchdog's current secretary general Wayne Byres will takeover as chairman from John Laker, who has headed the regulator for about a decade.
Dr Laker will step down from his post in June 2014.
Mr Byres has worked at APRA for 13 years.
"He was central to Australia's response to the global financial crisis as he was the lead supervisor of the four major banks during that period", Mr Swan said.
His appointment was strongly recommended to the treasurer by Dr Laker, Mr Stevens and Treasury Secretary Martin Parkinson.
Meanwhile, the current deputy chair of APRA Ross Jones won't be seeking a reappointment.
He'll be replaced by Ian Laughlin from July.
