Perspective with Heather duPlessis-Allan: The GDP numbers are the fault of the Reserve Bank, not Nicola Willis
How is it that we are having a conversation today about whether Nicola Willis needs to quit her portfolio because of yesterday's shock GDP number?
This is crazy. What happened yesterday is not Nicola Willis's fault. It is the Reserve Bank's fault. It is not a matter of opinion. It is a fact.
The Reserve Bank ratcheted up the official cash rate to slow down the economy and engineer a recession, to quote Adrian Orr. It's what he wanted to do. It is what he has actually done successfully.
We now have had an enormous recession, and we are struggling to come out of that. That is not Nicola…
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