Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Rod Carr appointed as Reserve Bank chairman

Canterbury Uni vice-chancellor Rod Carr appointed as Reserve Bank chairman

July 23 (BusinessDesk) - University of Canterbury vice-chancellor and former Reserve Bank deputy governor Rod Carr has been appointed chairman of the central bank by Finance Minister Bill English.

Carr will replace Arthur Grimes, who spent 11 years as the Reserve Bank’s chair, from Sept. 18, the central bank said in a statement. Sue Sheldon has been reappointed deputy chair. Reserve Bank directors appointed for five-year terms, and the bank’s board elects the chair and deputy for one-year terms.

“Arthur has been an outstanding chair over the past 11 years, and we have benefitted greatly from his expertise,” governor Graeme Wheeler said. “A highly respected economist, Dr Grimes has brought intellectual rigour and sound judgment in chairing the board and monitoring the bank’s performance.”

The board monitors the performance of the governor and is staked with assessing whether the quarterly monetary policy statements meet the government’s policy target agreements. It also monitors the six-monthly financial stability reports.

The bank will announce the outcome of its latest monetary policy review on Thursday, and is expected to keep the official cash rate on hold at 2.5 percent.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news