Glenn Robert Stevens
(born 23 January 1958) is an Australian economist
and the current Governor of the Reserve Bank of Australia
Early life and education
Stevens was born in Sydney in 1958. He was educated at the University of Sydney
from which he received the degree of Bachelor of Economics with first class honours in 1979. He subsequently obtained a Masters degree from the University of Western Ontario
After holding various positions in the Bank prior to 1990, he accepted a position as Visiting Scholar at the Federal Reserve Bank of San Francisco
Subsequently, Stevens held positions as Head of the Economic Analysis Department, the Head of the International Department, and was Assistant Governor (Economic) from 1996 to 2001, prior to his appointment as Deputy Governor in December 2001.
He replaced Ian Macfarlane
who retired in September 2006, after 10 years as governor of the Reserve. Stevens is committed to the style of operation of the Reserve established under Ian Macfarlane; the independence of the Reserve, the 2-3% inflation target over the course of the economic cycle, and the accountability of the Reserve when the decision is made to change interest rates.
Early in 2008 Stevens announced an official interest rate rise by 50 basis points
, predicting ongoing inflation pressures. This drew strong criticism from The Daily Telegraph
newspaper. The Australian
, 14 June... Read More