Reserve Bank of New Zealand Governor Orr has resigned:
- “I leave the role with consumer price inflation at target, and an economy in a cyclical recovery following the long period of COVID-related disruption. The financial system remains sound. However, there is much work left to do on the major multi-year strategies RBNZ is following. Ongoing focus and funding will be critical to these projects’ success.”
Deputy Governor Christian Hawkesby will be acting Governor until March 31.
On April 1 the New Zealand Finance Minister will appoint a temporary governor
- temporary governor will be based on recommendation from the RBNZ Board
- temporary governorship will be for up to 6 months
(no longer Governor) Orr.
NZD/USD is little changed.
Orr had big shoes to fill when he replaced Wheeler. Orr did so with aplomb.
