Two external monetary policy advisers appointed
The Reserve Bank has appointed Susan Paterson and William Rolleston as part-time advisors to the Bank on monetary policy.
They will provide advice to the Reserve Bank's Governing Committee leading up to setting the Official Cash Rate. The new appointees start their roles with the May Monetary Policy Statement.
They replace Tony Caughey and Conor English, who have advised the Reserve Bank for the past three years.
Reserve Bank Governor Adrian Orr said: "Ms Paterson and Dr Rolleston will bring valuable outside perspectives to our decision making, and will help ensure the Bank is well-informed about developments in the New Zealand economy.
"Ms Paterson and Dr Rolleston offer significant value with their fresh viewpoints."
Ms Paterson is Chair of Steel and Tube Ltd and Theta Systems Ltd, and on the Boards of Sky TV, Goodman NZ, Arvida Group, Les Mills NZ, the Electricity Authority, the Tertiary Education Commission, NZ Golf and Waikato’s velodrome.
Dr Rolleston is Chair of Life Sciences Network, Agriview NZ, and the University of Otago’s Genomics Aotearoa. He has business interests in farming and life sciences and was President of Federated Farmers for three years until June 2017.
The Government has previously announced it is altering the way Official Cash Rate decisions are made, with a formal Monetary Policy Committee consisting of both external members and senior Reserve Bank people. The new Monetary Policy Committee will be formed following amendments to the Reserve Bank Act later this year.
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