When central bankers want to be politicians
Once upon a time, central bankers did not tweet. And perhaps that was just as it should be. [...]
Monetary policy
News from the Unreserved Bank
The Minister of Finance and the Reserve Bank Governor should urgently reaffirm what the role of the RBNZ ought to be. [...]
Reserve Bank is coming full circle
If experience is anything to go by, the new RBNZ era will end in tears and inflation and it will take another Minister of Finance, and another RBNZ Governor, to clean up the mess. [...]
The coming monetary crisis in Europe
Europe's crisis was bad but not as bad as it could have been. Still, the worst is yet to come. [...]
Why this is the biggest global bailout in history
Enjoy the relatively positive economic data while it lasts. But do not believe for a second it is sustainable. [...]
International confidence matters
To keep international investors’ trust, we must remain squeaky clean in our fundamental economic institutions. If we are not, New Zealand will come out of the Covid-19 crisis as a broken economy and a failed state. [...]
Administering monetary medicine
Clinical research has found that a doctor’s reassurance promotes health outcomes and healing. With central banks, it is the same. [...]
The Unreserved Bank
The RBNZ needs urgent clarification that the Monetary Policy Committee will only pursue monetary goals, even under conditions of quantitative easing. [...]
The Unreserved Bank of New Zealand
As the Reserve Bank takes on fiscal functions, its political neutrality and commitment to monetary stability, as well as maximum sustainable employment, need to be re-emphasised. [...]
The weird world of negative interest rates
Unless you have a mortgage or you are the Minister of Finance, it is a world you would not want to inhabit. But for millions of Europeans, that may soon be reality. We can only hope that even after the RBNZ’s next cut, New Zealanders will not contemplate going into the topsy-turvy world the Germans are about to enter. [...]