\u201cThe appointments are the latest milestones in the refresh of the Reserve Bank,\u201d Finance Minister Nicola Willis said.<\/p>\n
Swedish economist Dr Anna Breman starts as the central bank\u2019s governor on Monday.<\/p>\n
Willis said the Reserve Bank was also operating under a fresh set of expectations from the Government that require it to place greater emphasis on banking competition.<\/p>\n
Finlay had been the central bank\u2019s deputy chair since February 2023.<\/p>\n
Willis said she had confidence in him to deliver more accountability, transparency and fiscal discipline.<\/p>\n
She said Finlay had experience governing large, complex organisations in the private and public sectors. <\/p>\n
Finlay said the past year had involved extensive changes for the Reserve Bank.<\/p>\n
He said he looked forward to supporting a focus on delivering the central bank\u2019s economic, financial stability, and broader central banking objectives.<\/p>\n
Finlay said McKinnon was an experienced financial professional with a strong background in leadership and strategy.<\/p>\n
Finlay\u2019s appointment was until June 30, 2027. <\/p>\n
McKinnon\u2019s appointment was until November 30, 2030.<\/p>\n
The central bank yesterday cut the Official Cash Rate<\/a>(OCR) by 25 basis points to 2.25%.<\/p>\n It also released its Monetary Policy Statement<\/a>.<\/p>\n Breman is replacing Christian Hawkesby<\/a>, who took over as governor from Adrian Orr<\/a>.<\/p>\n Orr resigned in March.<\/p>\n