The Reserve Bank of New Zealand confirmed it will continue operating with Deputy Governor Christian Hawkesby as Acting Governor and Chief Executive until the Minister of Finance makes an appointment under section 96 of the Reserve Bank Act 2021. Hawkesby remains a member of the Monetary Policy Committee (MPC) and, as Acting Governor, will chair it. The MPC will operate with six members comprising three internal Reserve Bank staff and three external members until a Governor on a five-year term is appointed, with the chair holding a casting vote. Under the Act, the Minister of Finance can appoint a Governor for up to six months on the recommendation of the Reserve Bank Board, and extend that appointment for up to an additional three months. Plans are underway to commence the process to appoint a Governor for a five-year term.
Reserve Bank of New Zealand 2025-04-01
Reserve Bank of New Zealand keeps Christian Hawkesby as Acting Governor and MPC chair pending a ministerial appointment
The Reserve Bank of New Zealand will continue with Deputy Governor Christian Hawkesby as Acting Governor and Chief Executive until a new appointment is made under the Reserve Bank Act 2021. The Monetary Policy Committee will operate with six members, and plans are underway to appoint a Governor for a five-year term.