RBA's Gerard resigns from Board

Australian businessman Robert Gerard resigned from the Reserve Bank of Australia's interest rate setting Board on Friday 2 December, four days after reports he had to pay $150 million ($111 million) to settle a tax dispute.

The RBA was quick to update its website

"This week has been aimed at destroying my reputation and damaging the Government," Mr Gerard said.

"Even though I have done nothing wrong and broken no law, the accusations made against me by the media have seriously affected my heal

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