The Reserve Bank of New Zealand said on Wednesday that Anna Breman, current First Deputy Governor of Sweden’s central bank, will take over as governor from December 2025.
Breman will serve as the RBNZ governor for a five-year term starting from December 1. Her appointment comes after a months-long search by the RBNZ for a new governor, following Adrian Orr’s abrupt resignation earlier this year.
Interim governor Christian Hawkesby will serve until Breman’s appointment, the RBNZ said in a statement. The central bank said it had fielded about 300 individuals for Orr’s replacement.
Breman joins the RBNZ in the middle of an easing cycle for the central bank, which slashed benchmark rates by 250 basis points since mid-2024 to stem cooling economic growth in the country.
Breman was in 2022 appointed as the First Deputy Governor of the Sveriges Riksbank, and has also overseen an easing cycle by the Swedish central bank since mid-2024. The Riksbank on Tuesday unexpectedly cut interest rates by 25 bps.
The RBNZ’s aggressive easing cycle comes amid sustained weakness in the New Zealand economy. Gross domestic product data released last week showed the economy shrinking much faster than expected.
The RBNZ had flagged a largely dovish outlook on interest rates, and is expected to cut interest rates further in the coming months.
Source :
https://www.investing.com/news/economy-news/rbnz-names-riksbanks-anna-breman-as-governor-4252340
