Hayley Gourley Appointed to Reserve Bank’s Monetary Policy Committee

Finance Minister Nicola Willis has announced the appointment of Hayley Gourley to the Reserve Bank of New Zealand’s Monetary Policy Committee (MPC), the body tasked with setting the country’s Official Cash Rate (OCR) and guiding monetary policy to maintain price stability.

Appointment Details

Gourley will begin her four-year term on 1 October 2025, succeeding Professor Bob Buckle, who will retire at the end of September after completing his tenure. The appointment was made following the recommendation of the Reserve Bank’s Board, which oversees governance and appointments to the MPC.

Minister Willis said Gourley’s background would add significant value to the Committee’s work.

“Hayley Gourley brings extensive experience across corporate, rural, and financial services sectors to the role. Her roles at both board and executive level in leading agribusinesses provide her with a unique perspective that will enhance the Committee’s discussions,” Willis said.

Role of the Monetary Policy Committee

The MPC is the independent decision-making body responsible for setting the OCR, which directly influences mortgage rates, business lending, and deposit rates across the economy. Its decisions are critical in controlling inflation, stabilising the financial system, and supporting sustainable economic growth.

In recent years, the MPC has played a pivotal role in managing inflationary pressures, navigating global economic uncertainty, and balancing monetary policy with New Zealand’s wider fiscal outlook.

Recognising Bob Buckle’s Service

Minister Willis also paid tribute to outgoing member Professor Bob Buckle, acknowledging his years of service and contributions to the Committee’s deliberations.

“I want to acknowledge Professor Buckle’s significant contributions to the MPC. I thank him for his dedicated service and the expertise he has brought to the role,” she said.

Buckle, a respected academic economist, has been widely recognised for his analytical approach and steady influence on monetary policy decisions during a period marked by both domestic and global challenges.

About Hayley Gourley

Gourley is well known in the agribusiness and financial services sectors, having held leadership and governance roles in companies spanning rural banking, corporate finance, and strategic advisory. Her expertise lies in bridging the gap between financial decision-making and the realities of the primary industries that underpin much of New Zealand’s economy.

Observers expect her appointment to strengthen the MPC’s ability to consider a wider range of industry and sectoral perspectives when making monetary policy decisions, particularly as the rural economy continues to grapple with shifting global trade dynamics and climate-related pressures.

Looking Ahead

Gourley’s appointment comes at a time when monetary policy remains under scrutiny, with inflation trends, interest rate settings, and global market uncertainty continuing to shape the economic landscape.

The Minister said her experience would help ensure the MPC remains equipped to make decisions that balance price stability with economic resilience.

Her four-year term will cover a critical period for New Zealand’s economy, as the Reserve Bank works to guide inflation back within its target range, manage the impacts of changing global conditions, and support sustainable long-term growth.