New RBNZ deputy governor

The Reserve Bank has appointed Adrian Orr as its new deputy governor and deputy chief executive. As required by statute, the appointment was made by the bank's board of directors on the governor's recommendation.
The post of deputy governor does not confer a specific day-to-day operational role. However, the deputy chief executive is the designated person to stand in when the governor is overseas or otherwise unavailable.
The appointment completes a series of changes to the bank's management structure.

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