Dr John McDermott
Assistant Governor and Head of Economics
Reserve Bank of New Zealand
Dr John McDermott joined the Reserve Bank of New Zealand in June 2007.
The purpose of the Economics Department is to advise the Governor on the economic outlook and the management of monetary policy, aimed at maintaining price stability over the medium term. The Bank’s key monetary policy instrument is the Official Cash Rate (OCR) which is reviewed every six weeks.
John’s previous positions include:
- Victoria University of Wellington, Associate Professor (2006-2007)
- National Bank of New Zealand, Chief Economist (2001-2006)
- Reserve Bank of Zealand, Manager (1998-2001)
- International Monetary Fund, Economist (1994-1998)
- Reserve Bank of Zealand, Economist (1988-1990)
John has published a number of articles on international commodity prices, real exchanges rates, and business cycles. John holds a BSc and M.Com Economics from the University of Auckland, and a PhD in Economics from Yale University.
