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Monetary Policy Committee

Our Monetary Policy Committee is responsible for making monetary policy in New Zealand to maintain price stability and support maximum sustainable employment.

The Monetary Policy Committee is bound by a remit, charter and code of conduct. The remit provides the Monetary Policy Committee with its operational objectives, and the charter provides directions on decision-making procedures, transparency and accountability. The code of conduct sets out minimum standards of ethical and professional conduct to which members must adhere.

Together, these three documents form the Monetary Policy Framework.

Read more about the Monetary Policy Framework

Internal members

Adrian Orr

Adrian Orr is the Governor of the Reserve Bank. He has a five-year term from March 2018 to February 2023.

Read Adrian Orr's profile

 


Adrian Orr
Christian Hawkesby

Christian Hawkesby is Deputy Governor and General Manager of Financial Stability at the Reserve Bank. He has a five-year term from January 2022.

Read Christian Hawkesby's profile

Christian Hawkesby
Adam Richardson

Adam Richardson is Manager of Central Banking Analytics at the Reserve Bank. Mr Richardson has been appointed as an internal member of the Monetary Policy Committee for a six month term from 11 March 2022.

Adam Richardson
Karen Silk

Karen Silk is the Assistant Governor/General Manager of Economics, Financial Markets and Banking. She has a five year term from May 2022-2027.

Read Karen Silk's profile

Karen Silk

External members

Professor Caroline Saunders
Professor Caroline Saunders holds a PhD in Agricultural Economics. She is currently Professor of International Trade and the Environment and Director, Agribusiness and Economics Research Unit, at Lincoln University.  Professor Saunders is a Director on the board of Landcare Research NZ, and sits on the Biosecurity Ministerial Advisory Committee.
Professor Caroline Saunders
Professor Saunders is a former director of AgriQuality and Council member for the Royal Society of New Zealand. Professor Saunders has been appointed for a four year term from April 2019-2023.
Professor Bob Buckle
Professor Bob Buckle is Professor Emeritus at Victoria University of Wellington. He was Pro Vice-Chancellor and Dean of the Victoria Business School from 2008 to 2017; Principal Adviser at NZ Treasury from 2000 to 2008, Chair of the Economic Committee of APEC, Chair of the Government’s 2009-10 Tax Working Group, and Chair of the External Panel for Treasury’s Long-Term Fiscal Statement in 2012. 
Professor Bob Buckle
Professor Buckle chairs review teams for European Foundation for Management Development (EFMD) and is an ambassador for Victoria Business School’s ‘Great Futures’ scholarships. Professor Buckle has been re-appointed for a three year term from 1 April 2022. 
Peter Harris
Peter Harris is an economist with extensive experience in the trade union movement, including a decade as CTU Economist. He is currently an economic consultant. He has been a member of the Electricity Commission and an associate member of the Commerce Commission. He was Economic Advisor to the Minister of Finance from 1999 to 2002. 
Peter Harris
Mr Harris was a management head of the Public Service Association, and a Board Member of PSIS Ltd and the NZ Universities Academic Audit Board. He led the Government’s Savings Product Working Group in 2004. He is also a member of the Wellington City Council Finance Audit and Risk Committee. Mr Harris has been reappointed for a term of 18 months from 1 April 2022.