Professor Bruce Preston has been appointed as a part-time member of the Reserve Bank of Australia (RBA) Monetary Policy Board by the Australian Government, effective March 1, 2026. 

The appointment was announced in press releases by the Australian Treasury, and by the RBA. The story also broke on ABC, the Australian national broadcaster.

Professor Preston, a distinguished macroeconomist, will bring valuable expertise to the board.

Preston studied at Princeton University in the US, gaining his MSc and PhD, after which he cut his teeth as an academic, working as an assistant professor and then associate professor of economics at Columbia University in New York. He then moved back to Australia in 2012, where he took on a full-professor position at Monash University. Preston is currently serving as a Professor of Economics at the University of New South Wales. His impressive background also includes recent roles as an advisor at the RBA and at the Treasury. 

Fellow Australian economist, Justin Wolfers, shared the news across his Twitter/X, BlueSky and Threads accounts, generating significant coverage and praise from economists on social media. Wolfers praised the appointment, writing:

“Hard to think of a better appointment to the RBA board than my old mate, Bruce Preston. By any measure he’s Australia’s leading monetary economist. Good news for the Bank, for Australia, and for economics.

(Many moons ago we were baby economists together at the RBA.)”

Preston’s term at the RBA is set to commence on March 1, 2026, lasting for five years. The Government has taken steps to reinforce the strength and leadership of key economic and financial institutions, especially during these uncertain times.

This selection process was comprehensive and included consultations with the Opposition. A panel made up of the Treasury Secretary, the Reserve Bank Governor, and Martin Parkinson, a former Secretary to the Treasury and Department of the Prime Minister and Cabinet, was responsible for the appointment. They used a skills matrix to ensure a diverse range of expertise within the board.

The Government also expressed gratitude to the outgoing member, Mrs. Alison Watkins AM, for her contributions to the board and for her commitment during her tenure.

Learn more about Bruce Preston on his personal website.

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