RBNZ appoints Head of Macro Financial Department
Deputy Governor and Head of Financial Stability, Grant Spencer, said the creation of the new department reflects the growing emphasis on macro-financial stability.
"The new Department will play an important role in overseeing the stability of New Zealand's financial markets and the overall soundness of the financial system," he said.
The Department will be responsible for producing the Bank's six-monthly Financial Stability Report, and will have close links to the Bank's other policy departments. It will combine the existing Stability Analysis team from Financial Markets Department, and the Statistics Unit of the Economics Department.
The Department will collect and disseminate financial statistics, and undertake analysis and research in support of the Bank's macro-prudential policy function, Mr Spencer said.
Mr Hodgetts has most recently been Head of Macro Financial Stability within the Financial Markets Department. He joined the Reserve Bank as an economist in 1986. In 1995, he joined the ANZ Bank and was their Chief Economist from 1998 to 2001, before returning to the Reserve Bank.
Mr Hodgetts will start as Head of Department on 15 April as a member of the Bank's Senior Management Group, leading the development of the new department which is expected to be officially formed by late May.
Mike Hannah, Head of Communications
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