Latest news with #GrantSpencer
RNZ News
01-07-2025
- Business
- RNZ News
Former Reserve Bank acting governor Grant Spencer appointed to its board
Grant Spencer. Photo: RESERVE BANK A former acting governor of the Reserve Bank has been appointed to its board. Finance Minister Nicola Willis has approved the appointment of Grant Spencer for a five-year term to fill one of two vacancies. "Grant Spencer brings expertise in central banking, financial stability, and monetary policy," Willis said. Spencer served as a RBNZ Deputy Governor, in charge of the supervision of banking and insurance sectors. He was appointed acting governor by the former National-led government for six months after the departure of Graeme Wheeler in September 2017 and the appointment of Adrian Orr by the newly elected Labour led government in 2018. Spencer was critical of the RBNZ's policies which were a factor in setting house prices alight at the start of Covid. He replaces Rawinia Higgins, whose term has ended. RBNZ chair Neil Quigley said Spencer would strengthen the board. "Mr Spencer's appointment will enhance the Board's expertise in prudential regulation, macro-prudential policy, and financial market operations, offering complementary strengths to existing board members, particularly in the context of New Zealand's central banking landscape." A current member of the board, Byron Pepper, has been reappointed for another five-year term. There is one remaining vacancy on the RBNZ board, which has come under scrutiny and criticism after the abrupt resignation of Adrian Orr. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
01-07-2025
- Business
- Yahoo
Former RBNZ Acting Governor Spencer appointed to central bank's board
(Reuters) -Former Reserve Bank of New Zealand (RBNZ) Acting Governor Grant Spencer has been appointed to the central bank's board for a five-year term, effective July 1, Finance Minister Nicola Willis said on Tuesday. Spencer served as RBNZ deputy governor and head of the bank's financial stability committee from 2007 to 2017, and was the bank's acting governor from 2017 to 2018. "Grant Spencer brings expertise in central banking, financial stability, and monetary policy," Willis said in a statement. Spencer's appointment to the board comes as the centre-right National Party-led coalition government continues its search for a permanent leader for the central bank after the surprise resignation of Adrian Orr in March. Willis was critical of Orr's stewardship while she was in opposition, blaming him for soaring inflation after the pandemic and the high interest rates that led to recession. Christian Hawkesby, who had been serving as RBNZ's acting governor following Orr's resignation, was appointed in April as the RBNZ Governor for a six-month term. Willis said she had also reappointed Byron Pepper to the board for another five years. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
01-07-2025
- Business
- Reuters
Former RBNZ Acting Governor Spencer appointed to central bank's board
July 1 (Reuters) - Former Reserve Bank of New Zealand (RBNZ) Acting Governor Grant Spencer has been appointed to the central bank's board for a five-year term, effective July 1, Finance Minister Nicola Willis said on Tuesday. Spencer served as RBNZ deputy governor and head of the bank's financial stability committee from 2007 to 2017, and was the bank's acting governor from 2017 to 2018. "Grant Spencer brings expertise in central banking, financial stability, and monetary policy," Willis said in a statement. Spencer's appointment to the board comes as the centre-right National Party-led coalition government continues its search for a permanent leader for the central bank after the surprise resignation of Adrian Orr in March. Willis was critical of Orr's stewardship while she was in opposition, blaming him for soaring inflation after the pandemic and the high interest rates that led to recession. Christian Hawkesby, who had been serving as RBNZ's acting governor following Orr's resignation, was appointed in April as the RBNZ Governor for a six-month term. Willis said she had also reappointed Byron Pepper to the board for another five years.
