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  1. #11
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Joshuatree View Post
    I havnt seen or heard this "followed by the next week in unison with the MOF" that is the link im asking for.
    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
    . To say extreme valuations are “justified” is also to say that long-term market losses are “justified.” .

  2. #12
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    Quote Originally Posted by Joshuatree View Post
    I havnt seen or heard this "followed by the next week in unison with the MOF" that is the link im asking for.
    https://www.interest.co.nz/business/...0%99re-playing

  3. #13
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    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."

  4. #14
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Joshuatree View Post
    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."
    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
    . To say extreme valuations are “justified” is also to say that long-term market losses are “justified.” .

  5. #15
    Speedy Az winner69's Avatar
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    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
    . To say extreme valuations are “justified” is also to say that long-term market losses are “justified.” .

  6. #16
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    Quote Originally Posted by winner69 View Post
    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.



    One goes with the other, cant you see the connection.

  7. #17
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    Our vision and values

    Our purpose, vision and values

    The Reserve Bank's purpose is to promote a sound, efficient and dynamic monetary and financial system. It seeks to achieve its vision - of being the best small central bank - with values of:
    Integrity: Being professional and exercising sound judgement.
    Innovation: Actively improving what we do.
    Inclusion: Working together for a more effective Bank.
    The Bank aims to develop and implement highly effective and efficient monetary, regulatory and financial policies that are well suited for the New Zealand economy and financial system. It endeavours to ensure that: the Bank’s objectives and priorities are sound, clearly communicated and understood; its business operations are well managed; and it invests wisely in the recruitment, training, development and retention of its staff. The Bank also invests heavily in reviewing and testing its policy frameworks and policy settings in light of domestic and international experience, and ensures that its independence is balanced by appropriate public disclosure and accountability.

  8. #18
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    Spot on, Jt!

    Let's not jump to any conclusions about the new governor. I find his communication "openness" to be rather refreshing - no tweets though, thank you!

  9. #19
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    A new perspective Guv - i find this quite refreshing
    http://www.sharechat.co.nz/article/992e11ba/governor-orr-draws-on-t-ne-mahuta-to-tell-rbnz-s-new-story.html


    He says he can lay a mean hangi!
    For clarity, nothing I say is advice....

  10. #20
    Speedy Az winner69's Avatar
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    Quote Originally Posted by peat View Post
    A new perspective Guv - i find this quite refreshing
    http://www.sharechat.co.nz/article/992e11ba/governor-orr-draws-on-t-ne-mahuta-to-tell-rbnz-s-new-story.html


    He says he can lay a mean hangi!
    Too many distractions diverting his attention away from the main job I think

    Wasn’t bad that after promoting ‘transparency’ the RBNZ banned media and even reporting from a speech to business people recently ...aparently this is what transparency means - “...communicate directly with a group of people who will be better informed after the event than they were at the start. That fits very well with our strategy to communicate more widely.”

    Also it seem strange that even though the RBNZ say 4.6% is the best guess of the unemployment rate consistent with keeping inflation low and yet the Reserve Bank has allowed it to fall to 4.4% without considering the need for at least a token OCR hike ...but then saying the next change could be up or down maybe he has considered a hike but is signalling a cut if anything is like. We’ll all suffer in late 2019/2020
    . To say extreme valuations are “justified” is also to say that long-term market losses are “justified.” .

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