The Reserve Bank’s policy actions and balance sheet with RBA's Deputy Governor, Guy Debelle
The Economic Society of Australia invites you to view this national webinar which took place on 30 June with Guy Debelle, Deputy Governor of the Reserve Bank of Australia.
The webinar provided the Bank’s analysis of the extensive responses it has made to the pandemic. These extend well beyond a reduction in the cash rate to include: a preparedness to buy government bonds in whatever quantities are needed to achieve a target yield on government bonds; introduction of a Term Funding Facility for authorised deposit taking institution; using open market operations to provide plenty of liquidity in financial markets; and bond purchases to promote smooth functioning of the market for government securities.
About the Speaker
Dr Guy Debelle commenced as Deputy Governor of the Reserve Bank of Australia on 18 September 2016. He is Deputy Chair of the Reserve Bank Board and Chair of the Reserve Bank's Risk Management Committee. Prior to his current role, Dr Debelle was the Assistant Governor (Financial Markets).
In May 2019, Dr Debelle was appointed Chair of the Global Foreign Exchange Committee (GFXC). Prior to this, he was Chair of the BIS Foreign Exchange Working Group responsible for the development of the Global Code of Conduct for the Foreign Exchange Market as well as Chair of the Australian Foreign Exchange Committee.
Dr Debelle worked at the International Monetary Fund, Bank for International Settlements, Australian Treasury and as a visiting professor in economics at the Massachusetts Institute of Technology (MIT). He graduated from the University of Adelaide with an honours degree in economics and gained his PhD in economics at MIT under Stanley Fischer and Rudi Dornbusch.
Dr Debelle is a signatory to The Banking and Finance Oath.