Australian Treasurer Wayne Swan said Thursday that Roger Corbett has been reappointed to the board of the Reserve Bank of Australia for a further five-year term, starting Dec. 2.

Corbett, who is chairman of Fairfax Media Ltd., has been a member of the RBA board since 2005. He is also a board member of Wal-Mart Stores Inc.

"His extensive knowledge of the retail sector, both within Australia and overseas, has been and will continue to be of considerable benefit to the board's monetary policy discussions," Swan said in a statement.

-By Rachel Pannett, Dow Jones Newswires; 61-2-6208-0901; rachel.pannett@dowjones.com
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