RBNZ Governor Orr resigns

Reserve Bank of New Zealand Governor Orr has resigned:

• “I leave the role with consumer price inflation at target, and an economy in a cyclical recovery following the long period of COVID-related disruption. The financial system remains sound. However, there is much work left to do on the major multi-year strategies RBNZ is following. Ongoing focus and funding will be critical to these projects’ success.”

Deputy Governor Christian Hawkesby will be acting Governor until March 31.

On April 1 the New Zealand Finance Minister will appoint a temporary governor

• temporary governor will be based on recommendation from the RBNZ Board
• temporary governorship will be for up to 6 months

(no longer Governor) Orr.

NZD/USD is little changed.

Orr had big shoes to fill when he replaced Wheeler. Orr did so with aplomb.

This article was written by Eamonn Sheridan at www.forexlive.com.