Willis considered downgrading RBNZ governor status

(Image: NZME)

Tue, 21 Oct 2025

Newly released Government documents show Finance Minister Nicola Willis sought urgent advice from Treasury on improving oversight of the Reserve Bank of NZ (RBNZ), following Adrian Orr’s messy resignation as governor in March.Treasury, which had been appalled by the bank’s request for a 50% funding boost (a fractious issue that led to Orr’s departure), suggested that, looking ahead, the governor should be booted off the board.The thinking was that drawing a firm line between the RBNZ’s management and board would strength...

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