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September 25, 2025
New Reserve Bank Governor – What Her Decisions Mean for Whānau Māori
Claudette Hauiti
Posted On September 25, 2025
Aotearoa-NZ has a new Reserve Bank Governor, Dr Anna Breman. As she takes charge of Te Pūtea Matua, her decisions will directly shape the cost of living, the stability of jobs, and the future of whānau across the motu.
This article explains why the Reserve Bank matters to Māori and why its policies reach far beyond stuffy Wellington boardrooms into the daily lives of our people.
For many whānau, Te Pūtea Matua might seem like some secret society tucked away in a windowless dungeon in Wellington. But its decisions ripple through our lives, from the kai we put on the tēpu to the roof over our heads and the mahi we rely on.
At its core, the Bank has two jobs: keeping prices stable and supporting employment. For whānau Māori, these decisions can mean the difference between stretching the pūtea or sinking into debt.
Inflation may sound abstract, but we feel its effects daily. Bread, milk, rent, petrol, all creeping up and up. The Bank’s job is to keep those price rises under control.
And we know why this matters to us? Because we have lower incomes and fewer assets on average. We don’t have the same buffers, like savings. When prices rise fast, Māori are hit hardest. Keeping inflation steady is meant to protect the buying power of every dollar.
The Reserve Bank’s main tool is the Official Cash Rate (OCR). When it rises, mortgage repayments, car loans, and credit cards all get more expensive. When it falls, borrowing costs drop.
Higher interest rates can also crush the dream of home ownership and hold back Māori businesses. On the flipside, lower rates can open doors, making mortgages more affordable, helping whānau invest, and supporting small businesses.
The Bank must also consider jobs. Raise rates too high, and the economy slows – just like it’s doing now. Businesses cut hours or staff. Those of us who are in insecure or low-paid work are often the first to feel it.
For years, economic policy ignored Māori values. That’s shifting. Te Pūtea Matua is now engaging with Te Ao Māori, recognising the importance of whenua, collective benefit, and whānau resilience. It’s a step towards an economy where Māori approaches don’t just survive but lead.
Te Pūtea Matua isn’t far away in Wellington, it’s right here at our kitchen tables. Understanding its role helps us hold it to account and ensure monetary policy works for whānau, hapū, and iwi – not just the wealthy few.
Dr Anna Breman who is Swedish, was found after an exhaustive global search. She brings an impressive blend of technical expertise and organizational leadership experience to the role. She holds a PhD in economics from the Stockholm School of Economics and has previously served as Group Chief Economist at Swedbank, a leading Swedish commercial bank. She has also worked at the Swedish Ministry of Finance, the World Bank, and as an academic economist in the United States. Her appointment is for five years, starting on December 1st.
So, if Dr Breman and the Reserve Bank holds such power over whānau and our cost of living and our jobs, how do we make sure her decisions reflect whānau Māori realities and not just Wall Street economics or Trump’s tariffs?
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