Graeme Wheeler to stand down this year

Graeme Wheeler's five-year term will end in September. Photo: RBNZ

Reserve Bank of New Zealand (RBNZ) governor Graeme Wheeler announced today (February 7) that he will not seek a second term and will hand the governorship to his deputy on an interim basis.

Wheeler's five-year term as governor will come to an end on September 26.

New Zealand's finance minister, Steven Joyce, has appointed deputy governor Grant Spencer to occupy the role of acting governor for six months after Wheeler steps down, due to the proximity of a general election.

New Zealand goes to the