Congratulations to our very own RBNZ Monetary Policy Challenge Team who flew to Wellington earlier last month to present at the Reserve Bank Of New Zealand. The team came third out of sixty teams. Congratulations! The award was presented by John McDermott, Ex-Student of Glenfield College, now Assistant Governor and Head of Economics at the Reserve Bank of New Zealand.
Dr John McDermott joined the Reserve Bank of New Zealand in June 2007. The purpose of the Economics Department is to advise the Governor on the economic outlook and the management of monetary policy, aimed at maintaining price stability over the medium term. The Bank’s key monetary policy instrument is the Official Cash Rate (OCR) which is reviewed every six weeks.
John’s previous positions include:
- Victoria University of Wellington, Associate Professor (2006-2007)
- National Bank of New Zealand, Chief Economist (2001-2006)
- Reserve Bank of New Zealand, Manager (1998-2001)
- International Monetary Fund, Economist (1994-1998)
- Reserve Bank of New Zealand, Economist (1988-1990)
John has published a number of articles on international commodity prices, real exchanges rates, and business cycles. John holds a BSc and M.Com Economics from the University of Auckland, and a PhD in Economics from Yale University.