RBA Appoints Highly Respected Economist to Monetary Policy Board

The Reserve Bank of Australia (RBA) has appointed Melinda Cilento to its monetary policy board, replacing outgoing member Ian Harper. Cilento, chief executive of the Committee for Economic Development of Australia, will bring her expertise as a former chief economist at the Business Council of Australia and experience as a board member at Woodside, Wesfarmers Insurance, and Australian Unity.

Treasurer Jim Chalmers said Cilento's appointment was the result of a thorough selection process, which included consultation with the opposition. 'Melinda Cilento is a highly respected economist with broad and deep expertise and experience,' he stated. This appointment will help ensure the Board has the right mix of skills and perspectives.'

Cilento joins Labor appointees Marnie Baker, Renee Fry-McKibbin, Iain Ross, Bruce Preston, and deputy governor Andrew Hauser on the RBA board. Her first test in the new role will come at the RBA board's next meeting on September 29.