Monetary Policy Without Mates
The Reserve Bank of New Zealand has been unfairly scapegoated for the current recession when it was simply doing its job of bringing inflation under control.The research note …
The Reserve Bank of New Zealand has been unfairly scapegoated for the current recession when it was simply doing its job of bringing inflation under control.The research note …
Last week, New Zealand’s Finance Minister Nicola Willis announced what she presented as a significant 25 per cent cut to the Reserve Bank of New Zealand’s operating budget.
The Reserve Bank of New Zealand (RBNZ) just released its Annual Report for 2024, providing an opportunity to examine how the central bank views its own performance.
In the world of central banking, nothing is as sobering as being forced to confront the consequences of past policy mistakes.
Māori are not responsible for a central bank that has lost its way.
The Minister of Finance and the Reserve Bank Governor should urgently reaffirm what the role of the RBNZ ought to be.
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.
© Dr Oliver Hartwich