Behind closed doors at the RBNZ: The marathon to set interest rates

Incoming RBNZ governor Anna Breman takes over on Dec 1. (Image: Getty)

Wed, 26 Nov 2025

When Anna Breman becomes Reserve Bank of New Zealand governor on Dec 1, she gains a powerful title – but only one vote when it comes to setting interest rates.Breman inherits a monetary policy committee tasked with reaching consensus after the single decision-maker era ended in 2018. BusinessDesk spoke with three internal committee members and one former external member to see exactly how consensus is reached. The committee currently has six members, but can have between five and seven. It turns out to be a full monetary policy...

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