Costello hopes to harness Macfarlane talents

Treasurer Peter Costello has said he hopes outgoing Reserve Bank of Australia governor Ian Macfarlane will consider working with the government after he retires.

Mr Macfarlane is due to retire as central bank governor in September.

The federal government is yet to announce his replacement.

Mr Costello said Mr Macfarlane had been an outstanding governor in whom he had great confidence.

"I hope that he can continue to serve Australia," Mr Costello told reporters.

"He'll become a private citizen and