Two external monetary policy advisers appointed

Two external monetary policy advisers appointed

13 April 2018

The Reserve Bank has appointed Susan Paterson and William Rolleston as part-time advisors to the Bank on monetary policy.

They will provide advice to the Reserve Bank's Governing Committee leading up to setting the Official Cash Rate. The new appointees start their roles with the May Monetary Policy Statement.

They replace Tony Caughey and Conor English, who have advised the Reserve Bank for the past three years.

Reserve Bank Governor Adrian Orr said: "Ms Paterson and Dr Rolleston will bring valuable outside perspectives to our decision making, and will help ensure the Bank is well-informed about developments in the New Zealand economy.

"Ms Paterson and Dr Rolleston offer significant value with their fresh viewpoints."

Ms Paterson’s interests include Chair of Steel and Tube Ltd, Theta Systems Ltd, and the Avantidrome and the Boards of Sky TV, Goodman NZ, Arvida Group, Les Mills NZ, the Electricity Authority, and NZ Golf. She has over 20 years Board experience across a range of sectors, was awarded an ONZM for services to corporate governance.

Dr Rolleston is Chair of Life Sciences Network, Agriview NZ, and the University of Otago’s Genomics Aotearoa. He has business interests in farming and life sciences and was President of Federated Farmers for three years until June 2017.

The Government has previously announced it is altering the way Official Cash Rate decisions are made, with a formal Monetary Policy Committee consisting of both external members and senior Reserve Bank people. The new Monetary Policy Committee will be formed following amendments to the Reserve Bank Act later this year.

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