New Zealand Minister Rebukes Central Bank Governor Over US Statement

Foreign Minister Winston Peters criticizes RBNZ Governor Anna Breman for signing a joint statement supporting the US Federal Reserve Chair without government approval.

Published on Feb. 12, 2026

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A diplomatic spat has erupted between New Zealand's Foreign Minister Winston Peters and the newly appointed Governor of the Reserve Bank of New Zealand (RBNZ), Anna Breman, over the latter's decision to sign a joint statement in support of the US Federal Reserve Chair Jerome Powell. Peters has publicly rebuked Breman, urging her to focus on domestic monetary policy and 'stay in her New Zealand lane.'

Why it matters

The incident raises questions about the appropriate level of engagement for independent institutions like the RBNZ in international affairs, particularly when those affairs involve politically sensitive issues in other countries. It also highlights the delicate balance between maintaining New Zealand's independent foreign policy and navigating its close relationship with the United States, a key strategic partner.

The details

The controversy stems from a letter signed by Breman and 13 other central bank heads globally, expressing solidarity with Powell as he faces scrutiny and potential legal challenges related to a probe into renovations of Federal Reserve office buildings. Peters responded swiftly, asserting that the RBNZ has 'no role, nor should it involve itself, in US domestic politics.' He emphasized the RBNZ's statutory independence from the New Zealand government on monetary policy but argued this does not extend to intervening in the political affairs of other nations.

  • The joint statement supporting Powell was released in January 2026.
  • Peters responded to Breman's actions on social media shortly after the statement was released.

The players

Winston Peters

New Zealand's Foreign Minister, a veteran politician and former Treasurer.

Anna Breman

The newly appointed Governor of the Reserve Bank of New Zealand (RBNZ).

Jerome Powell

The Chair of the US Federal Reserve.

Nicola Willis

New Zealand's Finance Minister.

Teanau Tuiono

The Green Party's foreign affairs spokesperson in New Zealand.

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What they’re saying

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— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

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The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.