RBNZ policy to be set by ‘governing committee’

Wheeler announces 'governing committee'

All Reserve Bank of New Zealand major policy decisions will be made by a committee comprising the governor, Graeme Wheeler, and his three top lieutenants, Wheeler revealed today.

Wheeler, along with his deputy governors, Grant Spencer and recent appointee Geoff Bascand, and assistant governor John McDermott, will make all monetary and financial policy decisions as a ‘governing committee'.

This contrasts with the bank's previous decision-making model, where individual governors were responsible f

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