The committee is a new independent decision-making body which will help make monetary policy decisions on behalf of the Reserve Bank, such as setting interest rates and exploring how monetary policy can support maximising employment in the New Zealand economy.
It replaces the previous structure under which the Reserve Bank Governor alone was responsible for the Bank’s monetary policy decisions.
Emeritus Professor Buckle is one of seven members on the new committee. Four are experienced Reserve Bank economists, and three are external experts.
Emeritus Professor Buckle was Pro Vice-Chancellor and Dean of the Victoria Business School from 2008 to 2017. Former roles also include principal adviser at the New Zealand Treasury, chair of the Economic Committee of the Asia-Pacific Economic Cooperation (APEC), chair of the Government’s Tax Working Group, and chair of the external panel for Treasury’s Long-Term Fiscal Statement in 2012. His early career was as a member of the academic staff at in the University’s School of Economics and Finance specialising in macroeconomics, including research on inflation and monetary policy.
He also chairs review teams for European Foundation for Management Development and is an ambassador for Victoria University of Wellington’s ‘Great Futures’ scholarships.
Emeritus Professor Buckle has been appointed on the Monetary Policy Committee for a three-year term.
The committee’s first scheduled decision will be the official cash rate and monetary policy statement in May.