WELLINGTON: The Reserve Bank of New Zealand (RBNZ) said today the current governor, Adrian Orr, had been reappointed for another five-year term starting in late March next year.
New Zealand finance minister Grant Robertson said the reappointment followed the RBNZ’s board unanimous recommendation.
“In light of global conditions, this is also a time when stability and continuity are paramount for the bank,” Robertson said.
The central bank is dealing with significant macro and local growth headwinds. It has undertaken an aggressive tightening cycle as it tries to get inflation under control.
“Adrian has demonstrated the skills, knowledge, and experience to help steer the financial system through the 1-in-100-year economic shock of the pandemic,” said Robertson.
The RBNZ will on Thursday release its own review of monetary policy decisions over the past five years alongside two independent reviews of those decisions.