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Government appoints Reserve Bank directors

Finance Minister Bill English has appointed two new directors to the board of the Reserve Bank.

The two Reserve Bank board appointments are Victoria University Professor of Economics, Neil Quigley, and Auckland-based consulting research economist Kerrin Vautier. Both take up their new roles early next month.

"The Government has looked for new directors with a mixture of macroeconomic and business experience," Mr English says.

"Both appointees have a strong background in economics and are experienced directors across a range of companies and ventures. I'm confident they have the skills to help the bank meet its targets and promote and maintain a sound and efficient financial system."

The Reserve Bank's board reviews the performance of the governor and the bank, including whether monetary policy is meeting policy targets.

The new directors replace Alison Paterson who is leaving after completing three five-year terms and Sir John Goulter who has completed two.