The Albanese Government has appointed Professor Bruce Preston as a part‑time member of the Reserve Bank of Australia Monetary Policy Board.
Professor Preston is one of Australia's most highly respected and experienced macroeconomists and he will do an excellent job on the Monetary Policy Board.
The RBA is a vital economic institution and we are making sure it has the right mix of skills and expertise to meet Australia's economic challenges.
Professor Preston is currently a Professor of Economics at the University of New South Wales, and his research focus includes macroeconomic theory and policy. He previously served as a senior advisor at the Reserve Bank of Australia and at the Treasury.
His five‑year term will commence on 1 March 2026.
The Government is ensuring Australia's key economic and financial institutions are strong and well‑led in an era of global economic uncertainty.
This appointment follows a thorough and considered selection process, including consultation with the Opposition.
The appointment was made on the advice of a Panel comprising the Treasury Secretary, the Reserve Bank Governor and former Secretary to the Treasury and Department of the Prime Minister and Cabinet, Martin Parkinson AC PSM.
The Panel compiled a shortlist of candidates drawing on the open and transparent expression of interest process that was run for the Government's appointments in 2024, and applied a skills matrix to ensure the right mix of skills and experience on the Board.
The Government thanks outgoing member, Mrs Alison Watkins AM, for her commitment and contributions to the Monetary Policy Board and previously the Reserve Bank Board.
