Australia shuffles top managers but governor Stevens stays on

Wayne Swan, the Australian treasurer and deputy prime minister, today unveiled wide-ranging appointments to top management positions at the Reserve Bank of Australia (RBA) and the Australian Prudential Regulation Authority (Apra).

Glenn Stevens was re-appointed as governor of the RBA. His initial seven-year term was due to expire in September, but he was today granted an additional three years at the head of the central bank. The Reserve Bank Act allows the treasurer to specify the governor's

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