Reserve Bank executive to have their power reduced

NEW ZEALAND - Brash to be removed as Reserve Bank chairman. The power of the executive team at the Reserve Bank is to be reduced with the introduction of law changes planned for this year.

The recommendations of an external review of the Bank have been backed by politicians across the political divide.

Bank Governor Don Brash, who gave a controversial speech to the Knowledge Wave conference last week, will no longer chair the bank's board under the proposed changes.

That job will fall to a non-e