27 November 2023

The Albanese Government has appointed Andrew Hauser as Deputy Governor of the Reserve Bank of Australia (RBA) for a five‑year term.

New Deputy Governor of the Reserve Bank of Australia

The Albanese Government has appointed Andrew Hauser as Deputy Governor of the Reserve Bank of Australia (RBA) for a five‑year term.

Mr Hauser brings international expertise in macroeconomics, markets and central banking operations from his distinguished career spanning over 30 years at the Bank of England.

His appointment strikes the right balance between providing deep central banking experience and offering a fresh, global perspective to the work of the RBA.

He will work closely with Governor Bullock to implement the recommendations of the Review of the Reserve Bank of Australia, including a stronger monetary policy framework for the benefit of all Australians.

Mr Hauser joined the Bank of England in 1992 and is currently the Executive Director of the Markets Directorate, a role he has held since 2018. His responsibilities include the design and execution of the Bank’s balance sheet operations, managing the UK’s official foreign exchange reserves, and providing market intelligence and analytical advice to the monetary and macro‑prudential policy committees.

Previously, he has held senior roles across most of the Bank of England’s other major functions, including its international economic analysis and its intelligence‑gathering regional agencies. He has also served as a member of the Executive Board of the International Monetary Fund in Washington DC.

Mr Hauser holds a Master of Economics from the London School of Economics and a first degree from Oxford University.

His appointment comes after a thorough, methodical and considered selection process, in consultation with Governor Bullock, which led to the Cabinet endorsing the Treasurer’s recommendation today.

Mr Hauser comes highly recommended for the position of Deputy Governor of the Reserve Bank, and his appointment will help ensure we have the most effective central bank to meet our current and future economic challenges.

The Government will work with the RBA to ensure Mr Hauser can commence his role as soon as possible, with the expectation that he will start ahead of the first Reserve Bank Board meeting next year.

The Government is confident Mr Hauser has the skills and experience required to help the RBA navigate an increasingly complex and uncertain economic environment.

This completes the Government’s appointments to the new RBA leadership team. Appointments to other leadership positions, including Assistant Governor (Economic), are the responsibility of the Governor and are expected to be announced soon.