New Zealand's first female governor Breman immediately took office as the first foreign governor in the modern history of the New Zealand central bank. The first thing she did was to make the central bank return to "ordinary."

date
01/12/2025
After her first day in office, the first job of New Zealand Reserve Bank President Bree Mann was to restore the central bank to normalcy after a period of damaged reputation and economic downturn. Mann, former deputy head of the Swedish Central Bank, is also the first female president in the history of the New Zealand Reserve Bank. Former Reserve Bank President Orr resigned due to disagreement with the government over cutting the central bank's budget. Known for his independent ways, Orr sometimes caught the financial markets off guard and occasionally clashed publicly with New Zealand Finance Minister Willis. Critics attribute New Zealand's long-term economic slump to Orr's rapid interest rate hikes and subsequent delay in cutting rates. As the first foreign president in modern history of the New Zealand Reserve Bank, Mann brings an outsider's perspective. In a press conference after taking office, she pledged to continue to focus "intensely" on inflation issues and to work closely with a wide range of community and business groups. In addition to understanding the specific situation of the New Zealand economy and political system, Mann also needs to rebuild the relationship between the central bank and Finance Minister Willis and other officials in the Ministry of Finance.