Wellington: New Zealand Prime Minister John Key announced his shock resignation on Monday, saying it was the right time to go, citing family reasons.


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"This is the hardest decision I`ve ever made and I don`t know what I`ll do next," he said at a press conference. His National Party is set to meet next week to elect a new leader.


According to a report in The BCCI, Bill English is expected to take over until the National Party holds a caucus to choose a new PM.


Mr Key is stepping down at the request of his wife Bronagh, the New Zealand Herald reports.


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