RBNZ deputy governor Bascand to step down
The Reserve Bank's second in command, deputy governor Geoff Bascand, will leave his role in early 2022, the central bank has confirmed.
Wednesday, September 8th 2021, 9:33AM
Bascand will step down next year, the RBNZ, marking an unexpected departure of one of the key figures within the central bank.
Reserve Bank Governor Adrian Orr said Bascand had "the Bank’s deep gratitude for his contribution".
Bascand has been a key figure behind a series of radical steps taken by the central bank to cool the housing market, including tighter LVR restrictions, and plans to use debt to income ratios.
He has been deputy governor since May 2013, and is a member of the Monetary Policy Committee, which sets the official cash rate.
The deputy governor said: “The Bank is a special place that makes a massive contribution to New Zealanders’ wellbeing. I have had extraordinary opportunities to participate in a huge range of important initiatives, and work with many wonderful colleagues, but I want to make more time for other interests in my life.”
The RBNZ will begin the search for Bascand's replacement "in due course", the organisation said.
| « Property finance specialist joins the Eightfold Group | New Auckland franchise owner for Mike Pero » |
Special Offers
Comments from our readers
No comments yet
Sign In to add your comment
|
|
Printable version |
|
Email to a friend |
