Another bad assumption MVT, I had already read the article and it was hardly ground breaking. If you didn't know those things already you would have to have been living in a cave. Perhaps if you read what I actually wrote, I never called Key a fool, I said his policy was irresponsible & I stand by that. So perhaps a fool, is someone who hasn't read something thoroughly before responding?
Keys is very smart as he is playing a populist game as Howard did & as long as property prices are going up, the populace won't complain. They are all sucking on the teat of the housing bubble that one day will burst. There were a lot of smart people on Wall St, however very few of them were thinking long term or for the greater good.
The RBNZ may be independent but it reacts to the financial environment including government policy. Rates might be historically low but they are the highest in the Western world & that is why the ccy is artificially high, yield. But that too will come crashing down just like the Aussie did once the dairy recession hits.