External Monetary Policy Advisers Appointed

The Reserve Bank today announced the appointment of two part-time external monetary policy advisers.

The appointees are Dr Brent Layton and Ms Kerrin Vautier.

Both will participate in the preparation of analysis and advice ahead of the Reserve Bank's quarterly Monetary Policy Statements.

Dr Layton is a professional company director from Christchurch and is currently chair of Lyttelton Port Company Ltd and a number of other companies.

Ms Vautier is a consulting research economist from Auckland. She lectures part-time at Auckland University, holds a number of directorships and chairs the New Zealand Committee of the Pacific Economic Co-operation Council.

Reserve Bank Governor Don Brash commented "These innovations follow on from suggestions that emerged as a result of Professor Svensson's Independent Review of the Operation of Monetary Policy. They are also part of the Bank's ongoing effort to be well-informed about developments in the New Zealand economy and to bring additional outside perspectives into our processes.

"For the same reason, in recent months the Bank has expanded its programme of visits to businesses and sector groups, and has invited senior central bankers from other countries to participate in the lead-up to Monetary Policy Statements and provide feedback on our processes. Our goal is to continue to achieve excellence in formulating monetary policy by actively challenging, reviewing and improving the way we work."

Date 4 September 2001

Reserve Bank building in Auckland for sale

The Reserve Bank of New Zealand has appointed Colliers Jardine as exclusive agents to sell its property situated at 67 Customs Street, Auckland.

Reserve Bank Head of Currency and Building Services, Brian Lang said "Over the past few years this building has been used less and less as our operations have been rationalised. Prior to Christmas last year the last Bank staff ceased working in the building.

"Colliers Jardine Directors, Peter Herdson and John Goddard have been appointed to manage the sale process and expect it to receive strong interest due to its central CBD location, excellent views, superior construction and value-add potential. Most significantly it is superbly located to take advantage of a re-vitalised Britomart precinct".

The building was constructed in the late 1970s and has fifteen levels including two levels of basement vaults, eleven of office accommodation and a further two levels of building services. It has an approximate net lettable area of 8,354 square metres and is situated on a freehold site of 1,595 square metres.

The property will be marketed by way of an international Tender closing on 17 October 2001.

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