Breman replaces former governor Adrian Orr, whose departure followed a highly public dispute with the government over proposed funding cuts. His aggressive cycle of interest rate hikes—followed by what many analysts viewed as a delayed shift toward monetary easing—has been blamed for prolonging New Zealand’s economic downturn. Orr’s confrontational style, especially in clashes with Finance Minister Nicola Willis, further complicated the central bank’s public standing and internal operations. Breman replaces former governor Adrian Orr, whose departure followed a highly public dispute with the government over proposed funding cuts. His aggressive cycle of interest rate hikes—followed by what many analysts viewed as a delayed shift toward monetary easing—has been blamed for prolonging New Zealand’s economic downturn. Orr’s confrontational style, especially in clashes with Finance Minister Nicola Willis, further complicated the central bank’s public standing and internal operations.