Stevens reappointed RBA governor for another 3 years

FXstreet.com (Barcelona) - Australian Treasurer Wayne Swan has confirmed today that the period in office for Reserve Bank of Australia Governor Glenn Stevens is set to be extended for another 3 years, ahead of September elections, and before the official term ends on September 17. Swan also appointed Kathryn Fagg as new member of the board, replacing Jillian Broadbent.

Bloomberg had a talk with Paul Bloxham, chief Australia economist at HSBC Holdings Plc and a former RBA economist, who said: "The risk was that it became a political football and that would be something that was negative for markets, but this gives certainty, as he’s widely seen as a strong central bank governor from a global perspective.”