Christian Hawkesby has been appointed Bank Governor for six months. Photo: RBNZ
- Acting governor Christian Hawkesby appointed as governor for the next six months
- Hawkesby was deputy governor until the abrupt departure of Adrian Orr
- Search is underway for a permanent replacement
Acting Reserve Bank (RBNZ) governor Christian Hawkesby has been appointed as governor for the next six months, while a search for a permanent replacement is underway.
Finance Minister Nicola Willis said the appointment was recommended by the Reserve Bank board.
Hawkesby was previously the deputy governor of the RBNZ, until the abrupt departure of former governor Adrian Orr early last month.
"Mr Hawkesby is an experienced central banker who has held a number of senior positions at the Reserve Bank," Willis said.
"During his term, the board will support Mr Hawkesby to implement the bank's new five-year funding agreement which will apply from 1 July 2025," she said.
The Minister of Finance may extend Hawkesby's appointment by an additional three months.
"I am proud to step into the role of governor and continue contributing to our mission of working to enable economic prosperity and wellbeing for all New Zealanders," Hawkesby said.
RBNZ board chair Neil Quigley praised Hawkesby's leadership and expertise since joining the central bank in 2019.
"His appointment reflects both his contributions and our confidence in his ability to continue strengthening New Zealand's financial system, chair the Monetary Policy Committee and be CEO of RBNZ," Quigley said.
Search underway for Orr's replacement
The Reserve Bank said its board has started the recruitment process for a new governor to replace Orr.
The replacement would be appointed on a five-year term.
During the recruitment process, the RBNZ's rate-setting body - the Monetary Policy Committee - would consist of three internal RBNZ staff and three external members.
Hawkesby, as chair, would hold a casting vote.
The Reserve Bank was due to review the official cash rate Wednesday.
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