RBNZ's Wheeler Finds Wellington a Tougher Crowd Than Washington
- Interest-rate leak is latest headache for central bank chief
- Bank announces overhaul of monetary policy release process
Graeme Wheeler.
Photographer: Mark Coote/BloombergThis article is for subscribers only.
For Graeme Wheeler, the New Zealand central bank chief who once influenced the World Bank’s leadership, an interest-rate leak is the latest local challenge that’s tripped him up since arriving from Washington.
The former World Bank vice president whose global experience was cited when he was tapped as Reserve Bank of New Zealand governor in 2012, on Thursday announced an overhaul in the release of policy decisions after a journalist was able to leak the surprise rate cut. Wheeler was also rounded on by local economists last month for his own policy communication and has been criticized by the nation’s finance minister more than once.