Anna Breman Faces Challenges as New Zealand's Central Bank Governor

Published:

Anna Breman Faces Challenges as New Zealand's Central Bank Governor
Photo: Anders Wiklund/TT

First Deputy Governor of the Central Bank Anna Breman is leaving the board of directors for a new job as central bank governor in New Zealand. A job that seems to offer the Swedish economist a number of challenges.

Anna Breman will take up her position at the Reserve Bank of New Zealand on December 1 this year.

"I am very happy and honored to have been given the trust to be appointed as the new central bank governor for the Reserve Bank of New Zealand. My time at Sveriges Riksbank has been very rewarding. I have had the privilege of working together with the Swedish Central Bank's fantastic employees," she says in a press release.

If the time at Sveriges Riksbank has been rewarding, the start as central bank governor in New Zealand will at least be challenging.

According to Financial Times New Zealand has hired Anna Breman in an attempt to end a turbulent period in the central bank's management and steer the country away from the brink of a double recession.

Her predecessor as central bank governor Adrian Orr suddenly resigned earlier this year after a disagreement with the government over the institution's budget. The central bank's chairman Neil Quigley also resigned last month.

Breman's appointment comes at a time when New Zealand's economic recovery has stagnated, with sharply increased unemployment, limited household spending and falling house prices.

Last week, GDP figures were published showing a decline of 0.6 percent in the second quarter compared to the previous year, after a decline of 0.7 percent in the three months up to March.

Loading related articles...

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for our readers

More news

Loading related posts...