His second term begins in March
Reserve Bank of New Zealand governor Adrian Orr has been reappointed for another five-year term.
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Orr’s reappointment followed the RBNZ’s board unanimous recommendation, said Grant Robertson, New Zealand finance minister, with Orr’s second term to begin on March 27.
Robertson said that “in light of global conditions, this is also a time when stability and continuity are paramount for the bank,” Reuters reported.
Read next: RBNZ can get inflation under control – Orr
The move comes at a time when RBNZ is dealing with significant macro and local growth headwinds. The central bank has undertaken an aggressive tightening cycle as it attempts to tame inflation.
“Adrian has demonstrated the skills, knowledge, and experience to help steer the financial system through the one-in-100-year economic shock of the pandemic,” Robertson said.
RBNZ will publish on Thursday its own review of monetary policy decisions over the past five years alongside two independent reviews of those decisions, Reuters reported.
