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Isaac Gross, Lecturer in Economics, Monash University

Game of Loans: the Reserve Bank loses its heir apparent to Fortescue's green fund

Reserve Bank Guy Debelle Australia Reserve Bank of Australia RBA

The Reserve Bank of Australia was roiled today by the resignation of its Deputy Governor Guy Debelle, who is leaving with only six days’ notice.

Dr Debelle said that he was resigning to become chief financial officer of Andrew Forrest’s Fortescue Future Industries, a company investing in zero-emission technologies such as green hydrogen.

The move came as a surprise given that, as deputy, Guy Debelle was long seen as the heir apparent to Reserve Bank Governor Philip Lowe, whose term expires in September next year.

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