Economics
Wealth Fund Chief Named Governor of New Zealand Central Bank
- Kiwi dollar rises on Adrian Orr appointment, holds gains
- ‘Wouldn’t want to classify him as a hawk or a dove’: BNZ
Pedestrians walk past the Reserve Bank of New Zealand headquarters in Wellington, New Zealand, on Thursday, Sept. 13, 2012.
Photographer: Mark Coote/BloombergThis article is for subscribers only.
Adrian Orr will oversee the biggest overhaul of New Zealand’s central bank since it pioneered inflation targeting in the early 1990s.
Orr, 54, will begin a five-year term as governor of the Reserve Bank on March 27, Finance Minister Grant Robertson said Monday in Wellington. A former deputy governor and chief economist at the RBNZ, Orr currently heads the New Zealand government’s sovereign wealth fund, which has swelled to more than NZ$37 billion ($26 billion) under his decade-long leadership.