The Reserve Bank leadership transition will see little change at the top, with current assistant governor Guy Debelle to replace new governor Philip Lowe as deputy governor.

Treasurer Scott Morrison announced the appointment of Dr Debelle, who is currently the RBA assistant governor responsible for financial markets.

Mr Morrison said Dr Debelle will take over as second in charge of the RBA on September 18, once Dr Lowe moves into the top job replacing outgoing governor Glenn Stevens, who has served a decade in charge of Australia’s central bank.

Dr Debelle, like several senior RBA officials, has a PhD in economics from MIT (the Massachusetts Institute of Technology) and has also served as the chair of the Bank for International Settlements’ markets committee.