Reserve Bank of Australia (Board)
Treasury
The Reserve Bank of Australia (RBA) is Australia's central bank and derives its functions and powers from the Reserve Bank Act 1959.
Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a strong and stable financial system and efficient payments system, and issuing the nation's banknotes. The RBA provides certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions. Additionally, it manages Australia's gold and foreign exchange reserves.
The RBA operates Australia's high-value payments system and sets payments system policy. The RBA has two boards: the Reserve Bank Board and the Payments System Board.
Further information
-
Type of Body
R. Management Board
-
Established By / Under
Act / Regulation
-
Established By/Under More info
Reserve Bank Act 1959
-
Paid Members?
Yes
-
Max No. of Board/Committee Members
9
-
Annual Report Prepared and tabled?
Yes
-
Classification
X. Internal Management
-
Auditor
ANAO
-
Function Categorization
Other
-
Creation Date
14 January 1960
Current board appointments
Position | Appointee | Start Date | End Date |
---|---|---|---|
Chair | Dr. Philip Lowe | 18 September 2016 | 17 September 2023 |
Deputy Chair | Dr. Guy Debelle | 18 September 2016 | 17 September 2021 |
Other | Dr. Steven Kennedy PSM | 2 September 2019 | 1 September 2099 |
Member | Mr. Mark Barnaba AM | 31 August 2017 | 30 August 2022 |
Member | Dr. Wendy Craik AM | 7 May 2018 | 6 May 2023 |
Member | Ms. Alison Watkins | 17 December 2020 | 16 December 2025 |
Member | Ms. Catherine Tanna | 30 March 2016 | 29 March 2021 |
Member | Prof. Ian Harper | 31 July 2016 | 30 July 2021 |
Member | Ms. Carol Schwartz AM | 14 February 2017 | 13 February 2022 |
Last updated: