RBNZ's Spencer to switch to financial stability

Reserve Bank of New Zealand governor Alan Bollard announced Tuesday 23 January that assistant governor, head of economics, Grant Spencer, will move to become head of financial stability.

The Financial Stability Department manages the Bank's responsibilities for banking regulation, foreign reserves management, market operations and liquidity management.

This move follows the resignation of Adrian Orr, Deputy Governor, who will be taking up a position as Chief Executive of the Guardians of the Ne