Overview

• Finance Minister Nicola Willis announced Swedish economist Dr Anna Breman as RBNZ governor, with a term of at least five years.
• Breman previously served as First Deputy Governor at Sweden’s Riksbank and has experience at Swedbank, the Swedish Ministry of Finance, the World Bank and in academia.
• Interim governor Christian Hawkesby will lead through the 8 October Official Cash Rate decision, remain in the role until 30 November, assist the handover and then depart the bank.
• The appointment follows a turbulent period that began with Adrian Orr’s March resignation after a funding dispute with the government and the subsequent exit of board chair Neil Quigley, whose replacement is yet to be named.
• The RBNZ board ran a global search that evaluated about 300 candidates, narrowed to 10 and then a four-person shortlist before selecting Breman.