New Zealand has appointed Swedish economist Anna Breman as the next Governor of the Reserve Bank of New Zealand (RBNZ), marking a historic first for the country.
She will assume office on December 1, 2025, becoming both the first woman and the first foreign national to lead the bank in its modern history.
Finance Minister Nicola Willis announced the appointment in Wellington, praising Breman’s leadership and technical expertise.
“Dr. Breman brings an impressive blend of technical skills and organisational leadership,” Willis said.
Breman, currently the First Deputy Governor of Sweden’s Riksbank, said she was honoured to join an institution respected worldwide for pioneering inflation targeting.
She added: “The Reserve Bank is an excellent institution. Its staff are loyal and dedicated, and they understand its importance to New Zealand.”
The RBNZ board shortlisted Breman after screening nearly 300 international candidates. Deputy Chair Rodger Finlay noted that her experience spans central banking, academia, and financial markets. He highlighted her strong knowledge of monetary policy, financial stability, and payments systems.
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New Zealand, the first country to grant women the vote, has had three female prime ministers. Yet, it had never appointed a female central bank governor until now. Willis said Breman’s rise would inspire the next generation of women:
“It makes a difference when young women and girls see that no office is out of reach.”
Breman replaces Christian Hawkesby, who served as interim governor after Adrian Orr’s sudden resignation. Orr had clashed with the government over budget cuts and interest rate policies. His tenure left the bank facing criticism for reacting too slowly to the recession.
Economists now expect Breman to restore credibility and strengthen the bank’s independence. Jarrod Kerr, chief economist at Kiwibank, said: “We hope the new leadership moves the Reserve Bank ahead of the curve instead of being reactive.”
Breman takes office at a turbulent time. The government recently cut the bank’s funding, forcing a 20% staff reduction. Her first policy meeting will be in February 2026, with markets already pricing in further interest rate cuts.
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She will also face pressure to review controversial capital requirement rules introduced in 2019, which critics say reduced lending and raised borrowing costs.
Despite these hurdles, political leaders across party lines welcomed her appointment. Opposition Labour spokesperson Barbara Edmonds praised Breman’s “impressive background” and said the decision signalled a fresh start for the bank.
Finance Minister Willis called the moment a turning point: “We are opening a new chapter in New Zealand’s history and a new chapter for the Reserve Bank.”
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
