FX.co ★ Incoming RBNZ Governor Pledges Firm Inflation Control

Anna Breman, the incoming Governor of the Reserve Bank of New Zealand, emphasized on Thursday the central bank's unwavering commitment to maintaining low and stable inflation, highlighting the significant adverse effects of high inflation in today's challenging global environment. Starting her five-year tenure on December 1, 2025, Breman will be the first woman and the first non-New Zealander to lead the RBNZ since its establishment in 1934. She steps into her role amidst an economic struggle to emerge from recession and institutional adjustments following Adrian Orr's departure in March, which initiated a series of organizational changes, including the exit of board chair Neil Quigley. Acting Governor Christian Hawkesby will manage the Official Cash Rate (OCR) review on October 8 and the Monetary Policy Statement on November 26 before stepping down, with his position on the Monetary Policy Committee to be filled in early 2026. Finance Minister Nicola Willis reiterated her commitment to maintaining the RBNZ's current inflation target, with no plans for modification.