Latest / The Kākā by Bernard Hickey
Why National can't afford true RBNZ independence
Briefly in this deep-dive below on the political economy of Reserve Bank independence:
* A debate is now raging around the Government’s pressuring of the Reserve Bank on interest rates and bank capital policies, along with the opaque and messy exits of both its Labour-appointed Governor, Adrian Orr, and its long-time Chairman, Neil Quigley.
* Both Finance Minister Nicola Willis and PM Christopher Luxon have breached the 35-year-long convention of not putting pressure on the Reserve Bank, which was designed to maintain a reputation for independence. They have breached the convention repeatedly…
The skinny
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