News release issued by the Minister of Finance
Bob Buckle and Peter Harris have been reappointed as external members of the Reserve Bank of New Zealand’s Monetary Policy Committee (MPC), Grant Robertson said.
The MPC is responsible for the monetary policy decisions needed to support maximum sustainable employment and price stability.
Dr Buckle and Mr Harris were appointed as external members in 2019 for terms of three years. On the recommendation of the Board of the Reserve Bank of New Zealand, they have both been reappointed for terms of three years from 1 April 2022.
“It was important to retain Dr Buckle’s and Mr Harris’ experience and expertise as external members of the MPC which responded to a one-in-100 year economic shock and provide continuity as the pandemic evolves,” Grant Robertson said.
The Reserve Bank’s Assistant Governor/General Manager Money Group Karen Silk has been appointed as an internal member of the MPC for a five year term from 16 May 2022. The Manager of Central Banking Analytics at the Reserve Bank Adam Richardson has been appointed as an internal member for a six month term from 11 March 2022.
Mr Richardson is an interim member of the MPC while the Reserve Bank recruits for the role of Chief Economist/Director of Economics. He will be the acting Chief Economist/Director of Economics when Yuong Ha, the current Chief Economist and an internal member of the MPC, leaves the Reserve Bank on 10 March 2022.
“The internal candidates have the appropriate knowledge, skills and experience to assist the MPC,” Grant Robertson said.