RBNZ confirms Bollard won't seek another term
Following NBR's breaking of the story on Friday, Reserve Bank Governor Alan Bollard has publicly confirmed he will not be seeking another term when his second term ends on September 25.
Dr Bollard says he will be fully focused in his remaining eight months on the serious economic and financial challenges facing New Zealand.
“As I noted last week, the bank is ready to respond to ongoing developments overseas, especially in Europe, the US and China, as well as domestically, particularly the Canterbury earthquakes. In addition, the bank’s expanded prudential regulatory responsibilities mean we will continue to introduce new prudential requirements this year, especially in the insurance and non-bank sectors.”
RBNZ chairman Arthur Grimes says the central bank will search in New Zealand and abroad for Dr Bollard's successor - who will be appointed by the Minister of Finance on the board's recommendation.
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Comments and questions11
Bring back the Don
Best thing that ever happened,Bollard did not have big enough b.... to really crunch the numbers, acted like a wet bus ticket,Heres hoping the new candidate is not a wet flannel blaming every thing on Europe.
Trouble with nice guys is they can turn into seat warmers if they are sorrounded by highly paid sychophants. Want someone who can make the place attractive to real money makers and their friends.... like Kim Dotcom.
Will he go into Politics ?
if i get the job will i still get working for families tax credit and my rent subsidy
John Key should put a sinking lid on the Reserve Bank, starting with Bollard. Simply don't replace him. Let the markets decide the price of money, stop the RB printing worthless bits of paper and allow private banks to issue their own currency.
Perhaps Mark Hotchin could apply???
The banks already create 98% of money.
You beauty, I totally agree.
Please let us now review "monetarism" as practised by the reserve bank.
For starters; Inflation? has inflation been reduced/controlled by "monetarism"? Surely we can measure inflation under monetarism with inflation pre the RBA?
If not, Why not?
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