New Zealand names members to central bank's monetary policy committee

The New Zealand government said on Thursday it had appointed economist Carl Hansen and professor Prasanna Gai to the Reserve Bank of New Zealand's monetary policy committee.

Hansen, the executive director of Capital Strategic Advisors, will replace Peter Harris, while Gai, professor of macroeconomics at the University of Auckland, will replace Caroline Saunders who is retiring at the end of June.

Hansen has been appointed for a three-year term and Gai for four years, Finance Minister Nicola Willis said in a statement.