RBA governor Glenn Stevens re-appointed for another three years Glenn Stevens ... his current term was due to end in September. Glenn Stevens has been reappointed governor of the Reserve Bank of Australia for another three years. Treasurer Wayne Swan announced the decision today. I congratulate Governor Stevens on his re-appointment, which acknowledges his enormous contribution to Australia's economic resilience through his conduct of monetary policy "I congratulate Governor Stevens on his reappointment, which acknowledges his enormous contribution to Australia's economic resilience through his conduct of monetary policy, as well as his enduring focus on financial stability working together with our other key regulators," Mr Swan said. Governor Stevens' became head of the RBA in September 2006, and his current term expires on 17 September this year. ANZ chief economist Warren Hogan said Mr Stevens' re-appointment for another three years was not unusual. He said this is what previous RBA governor Ian MacFarlane did, to give internal candidates "time to be groomed." By extending Stevens' term for another three years, Treasurer Swan has ensured that he will have been head of the RBA for a decade - the same length of time as Mr McFarlane. The three-year extension is less than the "usual" seven-year terms that are handed to new governors. When Stevens' new term ends in 2016, Australia will have had only two Reserve Bank governors in two decades. Late last year, there was speculation that Governor Stevens was being considered to head up the Bank of England on the retirement of Mervyn King. However, Mr Stevens was never formerly approached, and the role was given to Canadian Mark Carney, the current head of the Bank of Canada. He will start at the Bank of England on July 1. Mr Swan also announced the appointment of businesswoman Kathryn Fagg to the RBA board. The Melbourne-based senior executive has worked with Linfox, BlueScope Steel and ANZ during her career, which began as a petroleum engineer with Esso Australia. As well, Paul Costello and Gina Cass-Gottlieb have been appointed to the RBA's payments system board for five-year terms from July 15.