RBNZ says funding dispute triggered Orr’s resignation
Bank says ex-governor felt five-year financing package was “considerably” below what was necessary
New Zealand’s central bank has revealed that a funding dispute was behind Adrian Orr’s surprise resignation as governor in March.
The Reserve Bank of New Zealand (RBNZ) issued a statement today (June 11) in which it said Orr’s departure came after months of negotiations over the bank’s five-year funding plan. By late February, the board and finance minister Nicola Willis “were willing to agree to a considerably lesser amount” than Orr “thought was the minimum necessary”, the statement said.
The
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