ADRIAN ORR our NEW RBNZ GOVERNOR

[winner69]

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

[stoploss]

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

[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."

[winner69]

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

[winner69]

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

[Joshuatree]

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.

[Joshuatree]

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.

[macduffy]

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!

[peat]

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!

[winner69]

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