The Minister of Finance announced today that Mr Hugh Fletcher had been reappointed to Board of the Reserve Bank of New Zealand. Mr Fletcher will serve a further a further five year term, expiring in June 2012, as a non-executive director.

The primary role of the Board is to monitor and review the performance of the Reserve Bank, and the Governor, in the delivery of its monetary policy objectives and other responsibilities. Mr Fletcher is currently Chair of the board of directors of IAG New Zealand and a board director of Fletcher Building, and has a number of other private and voluntary sector board appointments.

Contact: Mike Jaspers, press secretary, 04 471 9412 or 021 270 9013
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