Reserve Bank board chairman Neil Quigley has resigned “with immediate effect” in the wake of the shambolic handling of Adrian Orr’s resignation as Governor.

Finance Minister Nicola Willis made the announcement just before 6pm on Friday - the day after the Reserve Bank revealed Orr temporarily stepped down as Governor a week before the public was told he resigned

The Finance Minister says she did not ask the Reserve Bank Chair to quit, following news he's resigned with immediate effect. 

Nicola Willis told Heather du Plessis-Allan that having completed key work streams with the bank, Quigley said the timing was appropriate.

Willis says she raised criticism around the board's handling of information relating to the former Governor's exit.

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