ADRIAN ORR our NEW RBNZ GOVERNOR

[winner69]

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.

Post No 2 on this thread from 2018

I was wrong - Orr has turned out worse than Wheeler

And my comments were pre-covid ...... fueling inflation back then ....and all actions been too late

Oh well .... another 5 years .... be even worse if his 'mate' Robertson is Finance Minister for another term

[blackcap]

[FONT="]“Following the Reserve Bank board’s unanimous recommendation to me, I am pleased to reappoint Adrian for another five-year term, effective from March 27,” Robertson said.


[/FONT]

How did he get another 5 years on his record so far? Beggars belief.

[jonu]

How did he get another 5 years on his record so far? Beggars belief.

Have a look at the capability of the Board. There's your answer. In typical woke fashion the RBNZ Board compilation has been more concerned with appearances than ability. These things have consequences.

[iceman]

[FONT="]“Following the Reserve Bank board’s unanimous recommendation to me, I am pleased to reappoint Adrian for another five-year term, effective from March 27,” Robertson said.


[/FONT]

What an incredibly arrogant Finance Minister. This beggars belief.

[Aaron]

Probably barking up the wrong tree but I wonder if the trading banks made money being the middle man between the RBNZ and the govt. when they were printing money for the Large Scale Asset Purchases (LSAP). Wonder if Adrian funnelling cheap money to the banks through Funding For Lending (FLP) (still going until December) helped with bank profitability?

A bit rich for Jacinda to complain about bank profits if Grant Robertson and Adrian are assisting them. rather than just criticising the banks maybe she should be criticising Grant and Adrian's actions as well.

I think as the RBNZ sells the govt bonds back to the banks to prepare their balance sheet for the next round of printing they have made losses (for the NZ taxpayer) which I assume means the trading banks made profits. Not sure how it all works but an enquiry would seem like a good idea.

https://www.msn.com/en-nz/news/natio...ffc10c4c4d7065

To quote from the article.

Ardern didn't think it was a problem for the government to solve.

"It is not unusual...for companies, or indeed other operators in our communities, to assess whether or not what they're doing, at any given time, is the right way from a corporate responsibility perspective to be behaving. It doesn't always take government intervention for that kind of self-reflection to occur.

"I think it's time the banks operating in New Zealand did that very thing."

I am reminded of another quote I heard recently.

“disinformation corrodes the foundation of liberal democracy”.

[Aaron]

Grant Robertson has no plan to look into bank profits unlike their studies into fuel companies and supermarkets.

These people are only about staying in power, it is disappointing.

https://www.msn.com/en-nz/news/natio...d200cc740ac7c4

[fizzletop]

Reappointment of Adrian Orr is a national disgrace. He is clearly incompetent and not fit for the office. Labour and Robertson quite happy having plenty of Useful Idiots holding important positions to further their agenda.

[777]

How did he get another 5 years on his record so far? Beggars belief.

Robertson wants to dump him on National late next year.

[GTM 3442]

Out of idle curiosity, who should have been appointed as RBNZ Governor?

[Aaron]

Out of idle curiosity, who should have been appointed as RBNZ Governor?

No idea but someone with a backbone who can maintain price stability and employment targets (which should not be RBNZs job). Adrian currently has inflation running at double the top end of his target range and house construction and the economy are so overstimulated we apparently have a labour shortage which is also exacerbating inflation as we get into a wage rise spiral (or whatever it is called).

Although I would argue the inflation target should be 0% (or -2% to 2%) not 1-3% and the reserve bank should not be responsible for the unemployment rate at all.

Might be better to ask the ex RBNZ people coming out to criticise Adrian's reappointment, there seem to be some such as Arthur Grimes or Geoff Mortlock

https://www.rnz.co.nz/national/progr...-reappointment

Not many coming out in support of Adrian's reappointment other than Grant and the RBNZ board. As far as the Board is concerned I imagine keeping sweet with Adrian and Grant and not rocking the boat means they can continue to collect their directors fees without actually doing what they are appointed for. I wonder what their annual director fee and workload for the RBNZ is???

Maybe Arthur Grimes wants the job back, even though he is the architect of inflation targeting he reckons the target should be lowered. That is a good start.