Christopher Kent, currently Head of Payments Policy Department, has been appointed to the position of Assistant Governor (Economic).

This appointment follows a selection process which considered internal and external candidates. Dr Kent will take over the role from Philip Lowe, when he becomes Deputy Governor on 14 February.

Dr Kent holds a PhD from the Massachusetts Institute of Technology and an honours degree in economics from the Australian National University.

In his current position he has overseen the Bank's work on the Australian payments system and was previously Head of Economic Research Department.

He has had extensive experience in high-level policy advice and has authored numerous articles on the Australian economy and macroeconomic policy. In his new position he will be the chief economic adviser to the Governor and the Board.

Following Dr Kent's appointment, Tony Richards, currently Head of Economic Analysis, will move to become Head of Payments Policy. Jonathan Kearns, Head of Economic Research, will move to become Head of Economic Analysis.

The position of Head of Economic Research will be advertised in the near future.