Latest / Best of Business / Azaria Howell: Newstalk ZB reporter on the Government revealing the new Reserve Bank Governor

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Azaria Howell: Newstalk ZB reporter on the Government revealing the new Reserve Bank Governor · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks EDB. Follow
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• 0:16
  Speaker 2: So we've got ikea and now we have a Swede
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  Speaker 2: at the top of the Reserve Bank at least from
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  Speaker 2: December first, which is when her term starts. All announced
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  Speaker 2: today by Nicola Willis Finance Minister. Azaria Hall Is our
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  Speaker 2: senior political Reportersaria, Good afternoon.
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  Speaker 3: Good afternoon.
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  Speaker 4: Yes, this is a big story bar opening a new
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  Speaker 4: chapter today, a new chapter in New Zealand's history and
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  Speaker 4: a new chapter for the Reserve Bank.
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  Speaker 3: So that's the Minister of Finance, Nikola Willis there as
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  Speaker 3: you say, confirming the new Reserve Bank governor. Goodbye Adrian
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  Speaker 3: or goodbye interim Governor Christian Hawksby Hello doctor Anna Breman.
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  Speaker 3: So doctor Breman has been appointed the next governor of
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  Speaker 3: the country Central Bank. She has a PhD in economics.
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  Speaker 3: She was the Deputy Governor rather of Sweden Central Bank
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  Speaker 3: since twenty nineteen, leading that through COVID SO an international
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  Speaker 3: search was launched to find the right candidate. It initially
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  Speaker 3: identified three hundred candidates. A long list then was created.
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  Speaker 3: Of ten people, four were shortlisted. There were interviews with
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  Speaker 3: the board in July and she was nominated. Here's the
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  Speaker 3: Minister of Finance, Nikola Willis speaking about her work.
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  Speaker 4: Doctor Breman brings to the role an impressive blend of
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  Speaker 4: technical expertise and organizational leadership experience. She holds a PhD
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  Speaker 4: in economics from the Stockholm School of Economics and has
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  Speaker 4: previously been Group Chief Economist at Sweatbank, a leading Swedish
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  Speaker 4: commercial bank. She has also worked at the Swedish Ministry
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  Speaker 4: of Finance, the World Bank, and as an academic economist
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  Speaker 4: in the United States.
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  Speaker 3: So she appeared in a press conference in the Beehive
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  Speaker 3: theaterre at this afternoon, speaking to New Zealand for the
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  Speaker 3: first time with the Minister of Finance, and doctor Breman
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  Speaker 3: has given us a sense of what we're in for
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  Speaker 3: under her leadership.
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  Speaker 5: Theresa Bank should and it will remain of strength and
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  Speaker 5: stability for the New Zealand economy. And together with the
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  Speaker 5: board and with staff, we will achieve this by focusing
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  Speaker 5: on our core mandate.
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  Speaker 3: And what are those sort of core ideals of the
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  Speaker 3: Reserve Bank. While she says the first is price stability.
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  Speaker 5: We will stay laser focused on delivering on low and
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  Speaker 5: stable inflation.
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  Speaker 3: The other goals are promoting financial stability and a safe
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  Speaker 3: and efficient payment system. So she's also spoken about the
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  Speaker 3: importance of having a transparent reserve bank. This is an
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  Speaker 3: important one. Have a listen to this.
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  Speaker 5: There's our bank lists high in international rankings of transparency.
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  Speaker 5: But I do believe that there is more work that
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  Speaker 5: needs to be done. So we will strive for transparency,
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  Speaker 5: accountability and clear communication within all the work that we do.
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  Speaker 3: And I'm sure this will be music to the ears
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  Speaker 3: of so many people. I mean, there were questions about
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  Speaker 3: when Adrian or resigned in terms of the transparency of
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  Speaker 3: the Reserve Bank. So many people were asking where certain
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  Speaker 3: pieces of detail were, information that may have been left
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  Speaker 3: out of Official Information Act responses and things like that.
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  Speaker 3: Hopefully it looks like that saga is behind us now.
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  Speaker 3: There'll be someone at the helm very soon. So the
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  Speaker 3: Minister of Finance, Nikola Willis, also confirmed that the opposition
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  Speaker 3: was told of this appointment and she's confirmed they've had
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  Speaker 3: no real issues with that. Labour's Barbara Edmunds says doctor
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  Speaker 3: Breman has an impressive background, wishing her well for the role. Also, interestingly,
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  Speaker 3: this appointment makes doctor Breman, the first woman to be
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  Speaker 3: Governor of New Zealand's Reserve Bank. Nicola Wellis spoke a
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  Speaker 3: little bit about this today.
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  Speaker 4: We only ever want to be selected for a role
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  Speaker 4: because we are the best candidate, not because of our gender. However,
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  Speaker 4: it is also the case that it certainly makes a
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  Speaker 4: difference when young women and girls can see that there
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  Speaker 4: is no office that cannot be occupied by a woman.
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  Speaker 4: And I am glad that my daughters will be raised
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  Speaker 4: in a time where they can see that the Governor
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  Speaker 4: of the Reserve Bank can be a man or a woman.
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  Speaker 3: And Doctor Breman says she's confident on the economy, she's
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  Speaker 3: looking forward to finding out more about New Zealand's culture
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  Speaker 3: and history and also another big update a new chair
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  Speaker 3: of the Reserve Bank that will be announced before the
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  Speaker 3: end of the year.
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  Speaker 2: All right, very good, and we've got the mood of
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  Speaker 2: the boardroom showing while Paul showing for the Prime Minister
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  Speaker 2: was ranked what fifteen sixteenth than his own cabinet And
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  Speaker 2: the inevitable question does that mean there's going to be
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  Speaker 2: a leadership thing, which is always a bit of a
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  Speaker 2: dumb question, especially at a time like this for a
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  Speaker 2: national party. I would have thought, Zaria.
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  Speaker 3: Yeah, well, it has been a hotly discussed topic today.
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  Speaker 3: But there is that I mean, there is a huge
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  Speaker 3: high threshold in terms of something like this. So yees.
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  Speaker 3: The survey of one hundred and fifty Chief executives has
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  Speaker 3: ranked the Prime Minister Chris Luckson fifteenth out of twenty
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  Speaker 3: eight ministers on performance. It puts him in the bottom
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  Speaker 3: half of the table. He had a rating of two
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  Speaker 3: point nine six out of five and Chris Luckson is
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  Speaker 3: on said some questions in terms of his reaction to this.
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  Speaker 3: The main question from some will you be standing down?
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  Speaker 6: No, no, I'm here to do a job. I came
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  Speaker 6: to politics four years ago because this is an awesome country.
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  Speaker 6: It's got fantastic potential and we're damn we're going to
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  Speaker 6: go make it get realized.
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  Speaker 3: And the Prime Minister is also confident in how the
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  Speaker 3: other ministers are doing.
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  Speaker 6: We decided we're going to play as a team and
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  Speaker 6: that means we put my job as the Prime Minister
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  Speaker 6: and as the leader of the team is to make
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  Speaker 6: sure I've got the right people in the right positions
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  Speaker 6: on the team at the right time.
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  Speaker 3: And also someone who had a poor display Chris Hipkins,
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  Speaker 3: the Labor leader. Hipkins was rated two out of five
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  Speaker 3: on performance, more than seventy percent of business leaders giving
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  Speaker 3: him a rating of just one or two out of five.
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  Speaker 3: So that's worse than the PM. Meanwhile, Labour's finance spokes
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  Speaker 3: to sim Barbara Edmonds, leads Labour's performance rankings. She's on
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  Speaker 3: three point two out of five.
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  Speaker 2: Zari appreciate that Zaria hole in Parliament.
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