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

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news