The best Governor the RBA never had

Guy Debelle’s departure is a huge blow to Australian monetary policy

RBA Deputy Governor Guy Debelle’s resignation is a huge blow to the Bank and the future of Australian monetary policy. I don’t think it is necessary to reprise his talents here, they are already widely appreciated. I am also wary of over-interpreting what is obviously a personal decision. Guy did not want for alternative opportunities and it is perfectly understandable he would want to pursue them. His departure is therefore over-determined as far as any of the following observations are concerned.