An Australian government minister has welcomed the departure of two central bank board members and refused to commit to extending the governor’s term.

Central bank board members Wendy Craik and Mark Barnaba will not seek reappointment when their respective terms end in May and August, said Australian treasurer Jim Chalmers. He added the non-executive directors’ departure was “a good thing for the reserve bank board”.

Chalmers called the departing directors “outstanding Australians”, but told S