Former RBA chief says Gerard should quit

Former Reserve Bank of Australia Governor Bernie Fraser said RBA board member Robert Gerard should resign after a report he had to pay A$150 million (US$111 million) to settle a tax dispute.

``I think it would be the best and most decent thing for Mr. Gerard to resign from the board,'' Fraser said in an interview in Canberra. Fraser was central bank governor between 1989 and 1996. ``It's a position that attracts a lot of scrutiny.''

Gerard has said he had no intention of quitting the board aft