From the FXWW Chatroom: New Zealand’s incoming central bank governor, Adrian Orr, has pledged “clear and transparent communication” in the role and signaled he’s at ease with the government’s planned reforms of the institution.
“I do believe clear and transparent communication is critically important,” Orr, who will take the helm of the Reserve Bank on March 27, told reporters in Wellington Wednesday. “The Reserve Bank has a global reputation for operating like that and I’m sure that that is the intention going forward.”
Orr, 55, will take charge of the RBNZ as the new government prepares to broaden its mandate to include full employment and appoint external experts to the bank’s policy-making committee. Orr indicated he has no concerns about the changes.
“I’m pleased that government is reaching out to industry experts and other people to think hard about what these issues are,” he said. “It’s a well-versed ground globally for monetary policy, there are many, many global examples.”
Orr declined to comment on current monetary policy and said he wasn’t involved “at this point” in any discussions about the new Policy Targets Agreement he will need to sign with Finance Minister Grant Robertson. He expects the PTA to be signed shortly before he takes office, he said.
Orr was speaking after appearing at a parliamentary select committee hearing in his current capacity as Chief Executive of the New Zealand Superannuation Fund.
Asked if he will bring change to the RBNZ, he said: “I think any new leadership or person brings change.”
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