RBNZ Chair Neil Quigley Resigns With Immediate Effect
In a surprise move, Neil Quigley, the Chair of the Reserve Bank of New Zealand (RBNZ), has stepped down from his role with immediate effect. The government confirmed his resignation on Friday, August 29, 2025.
Finance Minister Nicola Willis said Quigley felt he had completed several important projects during his time and believed now was the right moment to hand leadership over to someone new.
Quigley has been part of the Reserve Bank for 15 years as a board member and spent nine of those years as chair. He was reappointed in 2024 for another two-year term but decided to leave earlier than expected.
Until a permanent replacement is named, Deputy Chair Rodger Finlay will take on the responsibilities of the chair. The government has thanked Quigley for his long service and contributions to New Zealand’s financial system.
His departure comes at a time when the Reserve Bank is facing important challenges, including guiding interest rate policy, managing inflation, and maintaining financial stability. A new chair will be expected to continue this work while ensuring smooth communication with both the government and the public.
Impact:
The sudden resignation may create short-term uncertainty for the New Zealand dollar (NZD), but a quick appointment of a strong successor could help stabilize sentiment.
