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Claire Matthews: Massey University business professor on the Inquiry launched to look at RBNZ Covid response · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Bit of a surprier is moved from the government yesterday
• 0:02
  Speaker 1: just because of the timing, So an inquiry into the
• 0:04
  Speaker 1: Reserve Bank's COVID money splash. You'll remember the ocr was
• 0:07
  Speaker 1: slashed to a quarter of a percent, fifty five billion
• 0:10
  Speaker 1: dollars pumped into the economy, and this was the Finance
• 0:14
  Speaker 1: Minister yesterday.
• 0:15
  Speaker 2: The purpose of the review is to learn from experience
• 0:20
  Speaker 2: so that future shops can be navigated in the best
• 0:23
  Speaker 2: possible way. Those who don't learn the lessons of history
• 0:27
  Speaker 2: are doomed to repeat them.
• 0:29
  Speaker 1: Claire Matthews is professor Massi University Business School. Cliar, good morning,
• 0:33
  Speaker 1: good warning. It's surprised at the time. And do we
• 0:36
  Speaker 1: care about the timing. Is there more to learn?
• 0:40
  Speaker 3: Oh, there probably is some more to learn, but the
• 0:43
  Speaker 3: timing does seem.
• 0:44
  Speaker 1: Very odd because it's election here.
• 0:48
  Speaker 3: Because it's election year, quite frankness. They want to get
• 0:51
  Speaker 3: rid of the election paint. Just don't have it reporting
• 0:54
  Speaker 3: before the election. Go ahead with the review, but have
• 0:56
  Speaker 3: it reporting December February next year. Just don't have it
• 1:01
  Speaker 3: reporting before the election and that gets rid of that problem.
• 1:03
  Speaker 1: But it isn't so much of what our problems are now.
• 1:07
  Speaker 1: The genesis of them is COVID.
• 1:12
  Speaker 3: Well, I guess that's something that the review will tell us.
• 1:15
  Speaker 3: I think it's a bit simplustic to say that all
• 1:18
  Speaker 3: our problems today are due to COVID. Wh're now six
• 1:21
  Speaker 3: years past the start of COVID. There's been a lot
• 1:23
  Speaker 3: of other things happen in that time. It's all going
• 1:26
  Speaker 3: to be combining together to influence that. And as time
• 1:32
  Speaker 3: goes on, it gets very difficult to separate out what's
• 1:36
  Speaker 3: happening from between the different parts of it, and to
• 1:40
  Speaker 3: be able to say what we're experiencing now is only COVID,
• 1:43
  Speaker 3: I think is very simplistic.
• 1:44
  Speaker 1: Was listening to Michael Videll yesterday. He was saying, look,
• 1:47
  Speaker 1: your reserve bank is supposed to take into account because
• 1:50
  Speaker 1: obviously the government was spending like a drunken sailor. But
• 1:53
  Speaker 1: the Reserve Bank is meant to take that into account
• 1:55
  Speaker 1: when they're setting their rates. Right.
• 1:58
  Speaker 3: Oh, absolutely also got to remember that COVID was unprecedented.
• 2:03
  Speaker 3: It's not something that we had experienced at any recent time.
• 2:07
  Speaker 3: There was a lot of concern and so everybody was
• 2:11
  Speaker 3: trying to do what was seen to be best at
• 2:13
  Speaker 3: the time. Now in hindsight, it's fine to be able
• 2:16
  Speaker 3: to say, well, actually, maybe there are things that we
• 2:18
  Speaker 3: can learn, so yes, potentially there is some value in there.
• 2:21
  Speaker 3: Although the Reserve Bank has already done a review, it's
• 2:25
  Speaker 3: taken some lessons out of there. How much more are
• 2:27
  Speaker 3: we going to learn that? The timing just I'm afraid
• 2:31
  Speaker 3: I'm in the cynical camp. It's an election of the
• 2:33
  Speaker 3: employed cleared.
• 2:34
  Speaker 1: You know, there's so many things I want to argue
• 2:36
  Speaker 1: with you, argue with you about that you just said,
• 2:40
  Speaker 1: but I actually can't be bothered, and I think I
• 2:42
  Speaker 1: think probably most people will now so far on fall
• 2:46
  Speaker 1: into the same camp. Like you know, we kind of
• 2:49
  Speaker 1: know what happened. It's time to move on. But there
• 2:52
  Speaker 1: we go. Clear, appreciate your time this morning. Clear Matthew's professor,
• 2:55
  Speaker 1: Mass University Business School. For more from Early Edition with
• 2:59
  Speaker 1: Ryan Bread, listen live to news Talks. It'd be from
• 3:02
  Speaker 1: five am weekdays, or follow the podcast on iHeartRadio