Brash resigns for chance as National MP

By Phil Boeyen, ShareChat Business News Editor

Friday 26th April 2002

The Reserve Bank Governor Don Brash has resigned his central bank role to seek nomination as a National Party candidate in the upcoming election.

Mr Brash announced his resignation from the bank early Friday and says it takes effect immediately.

"I have been invited to seek nomination for the National Party as a candidate in the upcoming General Election, and I have decided to accept that invitation. I wish to stress that this decision is not motivated by any tension with the Minister of Finance or the Government.

"Working at the Bank has been a very great privilege. Now I am seeking to serve New Zealand in another way."

61-year-old Dr Brash was head of the Trust Bank group before taking up his Reserve Bank job in 1988.

He has also previously worked with the World Bank, Broadbank/Fletcher Challenge, and the New Zealand Kiwifruit Authority.

Finance Minister Michael Cullen says Dr Brash has been a leading central banker, recognised around the world for his commitment to price stability.

"Assuming Dr Brash is sufficiently highly-placed on the National list to make the cut, I look forward to facing him across the House."

Reserve Bank deputy governor, Rod Carr, will take over from Dr Brash as acting governor.

Comments from our readers

No comments yet