Dr Bollard today announced when his current term ended on September 25 he would not seek another term heading New Zealand's central bank.
He was now in his second five-year term after being appointed in September 2002.
For his remaining eight months as Governor he would focus on the serious economic and financial challenges facing New Zealand, he said.
"As I noted last week, the Bank is ready to respond to ongoing developments overseas, especially in Europe, the US and China, as well as domestically, particularly the Canterbury earthquakes.
"In addition, the Bank's expanded prudential regulatory responsibilities mean we will continue to introduce new prudential requirements this year, especially in the insurance and non-bank sectors.''
Reserve Bank Board chair Arthur Grimes said the Board would look for a replacement in New Zealand and abroad.
The Governor is appointed by the Minister of Finance on the recommendation of the Board.
