Arthur Grimes re-appointed to Reserve Bank Board

Release date
05 March 2007

Arthur Grimes has been re-appointed as a non-executive director on the Reserve Bank Board for a second five-year term, Finance Minister Michael Cullen announced today.

"I am grateful for Dr Grimes' commitment to the development and maintenance of the board's functions and activities over the past five years, particularly in his role as chair," said Dr Cullen.

"Dr Grimes has a thorough understanding of the roles and responsibilities of our central bank and its influence on the economy and his knowledge and experience will continue to serve the bank well over the next five years."

He is a Senior Fellow at Motu Economic and Public Policy Research Trust and is an adjunct Professor of Economics at the University of Waikato. He has previously held senior positions within the Reserve Bank and the National Bank, and as Director of the Institute of Policy Studies at Victoria University of Wellington.

Dr Grimes is currently chair of the Reserve Bank Board. The non-executive directors appoint the Board's Chair. Other non-executive directors on the RBNZ Board are: Paul Baines; Hugh Fletcher; John Goulter; Alison Paterson; the Rt Hon Ted Thomas; and Dr Marilyn Waring. The Reserve Bank Governor, Dr Alan Bollard is an executive director.

Contact: Mike Jaspers, press secretary, 04 471 9412 or 021 270 9013
mike.jaspers@parliament.govt.nz