Willis teases new RBNZ governor after GDP drop

Finance Minister Nicola Willis. (Image: NZME)

Fri, 19 Sep 2025

Finance Minister Nicola Willis says a new Reserve Bank of New Zealand governor will be announced “very shortly” as she comes under growing pressure to tackle NZ’s economic woes.Economists are calling on the RBNZ to cut the official cash rate (OCR) more aggressively after yesterday’s shock GDP result.NZ’s gross domestic product (GDP) fell by 0.9% in the June quarter, a reduction well over market expectations.Expectations were for a 0.4% decline in GDP, while RBNZ forecasts were for a 0.3% drop.The worse-than-expecte...

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