Consultant Carl Hansen and professor Prasanna Gai to join the RBNZ's Monetary Policy Committee

Economists Carl Hansen and Prasanna Gai have been appointed to the Reserve Bank’s Monetary Policy Committee. 

Carl Hansen is the executive director of Capital Strategic Advisors, which provides policy advice to government and private sector clients. 

Professor Gai is a professor of macroeconomics at the University of Auckland where he oversees economics, accounting, finance and property. 

These appointments replace labor economist Peter Harris and agricultural economist Caroline Saunders when their terms end in March and June, respectively.

This means Hansen will take part in the April policy review beginning next week, the results of which will be announced on Wednesday the 10th. 

Finance Minister Nicola Willis announced the appointments on Thursday afternoon. 

She said Hansen and Gai were both highly-qualified and have been appointed on the recommendation of the Reserve Bank’s board. 

They were chosen for their professional knowledge, skills and experience, including in the areas of economics and monetary policy.

Reserve Bank board chairman Neil Quigley said both candidates had worked at central banks during their careers and were highly qualified for the role. 

“Their respective business experience at a high level and research expertise on macroeconomics and monetary policy will add fresh perspectives to Committee discussions,” he said. 

Governor Adrian Orr, who chairs the committee, said he was looking forward to working with the pair soon. 

“The Monetary Policy Committee remains laser-focussed on its job to control inflation and Carl and Prasanna will play an important part in our discussions,” he said. 

Orr thanked Harris and Saunders for serving on the committee for many years and during an “especially turbulent time”.

Gai’s first meeting will be for the July monetary policy review in four months’ time.