Orr re-appointed to Reserve Bank amid strong criticism

Orr was unanimously recommended by the Reserve Bank Board, according to the Minister of Finance Grant Robertson.

Robertson said the Reserve Bank had been undergoing a lot of change during Orr's tenure.

“As the governor, Orr has been instrumental in leading this change and his reappointment will allow him to carry on and ensure these changes are bedded in,” Robertson said.

“In light of global conditions, this is also a time when stability and continuity are paramount for the bank.”