New Zealand Finance Minister Bill English on Tuesday announced the appointment of former World Bank official Graeme Wheeler as the new governor of the Reserve Bank of New Zealand.
Wheeler replaces Alan Bollard, whose second five-year term expires on September 25.
Wheeler will be governor-designate until a new policy targets agreement (PTA) is finalized in the next few months, the central bank said in a statement. However, he "does not envisage any major changes to the policy targets agreement," it said.
English said the current PTA has served New Zealand well, but the global financial crisis has focused some attention on monetary policy frameworks. "I want to ensure that the PTA continues to reflect best international practice," the Minister said.
Wheeler has worked with the World Bank from 1997 to 2010. He had also served as the deputy secretary at the New Zealand Treasury and as treasurer at the Debt Management Office.
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