ADRIAN ORR our NEW RBNZ GOVERNOR

I found this interview with him very helpful and fresh and covering lots to do with our investments and where to from here for us and the planet..

Listenduration 35′ :04″

Orr can’t be any worse than Wheeler even though he has ‘endorsed’ Wheeler’s recent actions and outlook.

The RB is fueling an inflation problem that will require numerous hikes in the future resulting in an inevitable recession in 2019/2020

They seem blindfolded with some idealistic views at the moment. I hope Orr can see what might happen and start acting now before it’s too hard and all too late

Good luck to him ....seems a nice enough guy.

Orr seems to want to get involved in ‘populism’ - not a good thing for the Governor of the RBNZ

The carry ons in Aussie banks one bandwagon he has jumped on

A week or so ago he wanted us all to know that New Zealand Banks were different and there wasn’t anything to worry about but this week He was “demanding” answers from NZ banks (even though he has no remit to do so)

Probably didn’t want to miss out on being on the band wagon and even worse may have even been egged on by Robertson

Not a good look

I think the abrupt about face tells you he was more than egged on by the MOF ......

Any links to support your arguments guys?

Quote:

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Originally Posted by Joshuatree

Any links to support your arguments guys?

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April 22 no worries says Orr -
“The true problem and challenge going on in Australia is cultural,” Orr said Sunday in an interview on Television New Zealand’s Q+A. New Zealand bank culture “is infinitely better than some of the activity you’ve seen in Australia,” he said.

https://www.bloomberg.com/news/artic...than-australia



May 2nd - Robertson says NZ branches are ‘obligated’ to prove they are not crooks
https://www.nzherald.co.nz/business/...ectid=12043691

And Orr and FMA summons the bank bosses to a meeting to make sure they prove they are not crooks
Everett said his and Orr's message was; "It’s not credible to just say that New Zealand is different. You have to demonstrate why either the business structures here, or your business practices here, lead to different outcomes. Now we at the FMA, we see some of that. But actually we think the banks need to front up and really explain why it should be different. And that’s the process that we’re going through with them now.”
https://www.interest.co.nz/news/9350...ve-their-banks

And Orr doesn’t have a remit to take such action ....hmmm





Followed y

Quote:

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Originally Posted by Joshuatree

Any links to support your arguments guys?

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JT , bearing in mind the RBNZ is meant to be independent a link is rather unlikely . But ask yourself why would the Governor one week give it a big ‘ nothing to see here ‘ followed by the next week in unison with the MOF , “ prove it ‘ ?

Quote:

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Originally Posted by stoploss

JT , bearing in mind the RBNZ is meant to be independent a link is rather unlikely . But ask yourself why would the Governor one week give it a big ‘ nothing to see here ‘ followed by the next week in unison with the MOF , “ prove it ‘ ?

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Spot on

Orr caught up in populism not good .....and even worse if Robertson told him to do it.

Quote:

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Originally Posted by Joshuatree

I found this interview with him very helpful and fresh and covering lots to do with our investments and where to from here for us and the planet..

Listenduration 35′ :04″

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"Mr Orr said householders and investors also needed to consider whether they were putting all their financial eggs into one basket when it came to the housing market"

Quoted from the above link. This is something to think about seriously before it is too late.

Hope we are not same as Canada. Good luck for new Governor.

https://www.theglobeandmail.com/repo...ticle38280148/

Credit quality of Canadian banks under strain: Moody’s

Quote:

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Originally Posted by stoploss

JT , bearing in mind the RBNZ is meant to be independent a link is rather unlikely . But ask yourself why would the Governor one week give it a big ‘ nothing to see here ‘ followed by the next week in unison with the MOF , “ prove it ‘ ?

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I havnt seen or heard this "followed by the next week in unison with the MOF" that is the link im asking for.

Quote:

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Originally Posted by Joshuatree

I havnt seen or heard this "followed by the next week in unison with the MOF" that is the link im asking for.

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Don't need a 'link' ...its pretty obvious what the motivation for the the meeting with the Bankers Association was .....isn't it

Orr going to be a danger if he carries on like this .....jeez he'smeant to be a Governor of a Central Bank and not a rock star

Quote:

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Originally Posted by Joshuatree

I havnt seen or heard this "followed by the next week in unison with the MOF" that is the link im asking for.

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https://www.interest.co.nz/business/...0%99re-playing

Thanks guys. i dont really see an about face. In aus there is a Royal Commission inquiry into misconduct, here the banks are being asked to" prove they are different"



"Reserve Bank Governor Adrian Orr says there is no need for a similar Royal Commission in New Zealand. Orr said the culture of the New Zealand banks is “infinitely better than some of the activity in Australia.”
Asked if he agrees, Robertson says, “that’s certainly what we have been told."

Quote:

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Originally Posted by Joshuatree

Thanks guys. i dont really see an about face. In aus there is a Royal Commission inquiry into misconduct, here the banks are being asked to" prove they are different"



"Reserve Bank Governor Adrian Orr says there is no need for a similar Royal Commission in New Zealand. Orr said the culture of the New Zealand banks is “infinitely better than some of the activity in Australia.”
Asked if he agrees, Robertson says, “that’s certainly what we have been told."

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Question still unanswered is why is Orr even getting involved and asking for them to prove they don’t have a bad culture in NZ

Orr (or RBNZ) banking supervision powers are about the maintenance of a “sound and efficient” financial system .......not about market conduct.

Dangerous if he just wants to be a ‘popular’ governor jumping on every bandwagon ...and seen to be in bed with the MoF

I see our man Adrian making comments about things that RBNZ Governors shouldn’t be involved in (Chch rebuild). Ok if in his old job but not for this job.

He’s becoming a loose cannon