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28-07-2022, 10:56 AM
#871
Originally Posted by unhuman
So Luxon has also jumped on Graeme Wheelers report and wants a review of stimulus measures.
Good to see the mainstream finally paying some attention to the RBNZ missteps.
Luxon jumps on anything and everything - I wouldn't read anything into that.
A review would be good (and the RBNZ is doing so) so long as it is about learning rather than blame.
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28-07-2022, 11:57 AM
#872
Our inflation fighting central bank hard at it.
Sounds like they don't want to stop FLP in case banks forget it is available next time it is needed. That makes sense.
https://www.interest.co.nz/banking/1...nt-ensure-tool
Good time to be in banking, record profits. I wonder why? Good prudent management? or RBNZ gaurantee? back stopped by depositors if needs be through the OBR.
https://www.rnz.co.nz/news/business/...shocks-to-come
Last edited by Aaron; 28-07-2022 at 02:05 PM.
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28-07-2022, 04:15 PM
#873
Bernard Hickey on the case.
https://www.interest.co.nz/borrowing...nquiry-reserve
by choosing to use the wealth effect to rescue the economy, the Reserve Bank was making both a monetary policy decision and a wealth redistribution decision.
With Robertson's approval. Next time Jacinda Ardern or Labour says they are concerned about poverty, it might pay to point out their words mean nothing as the reality of their actions is the complete opposite of giving a s*it about poor people. No better than National both parties pander to the average selfish self centred home owning middle class. Neither will get my vote.
Although not RBNZ related Chloe Swarbrick highlighting the hypocrisy of Hipkins and Robertson. Obviously they are smart but will fight for whatever is best for them at the time. Like most people myself included but you would hope leaders would put the country as a whole ahead of their own house prices and financial security.
https://www.nzherald.co.nz/nz/politi...BEZ7A4OXBSP4E/
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29-07-2022, 08:48 AM
#874
I think Arthur Grimes suggested a long time ago that the inflation target should be lowered, now he sees along with everyone else the "path of least resistance(regret)" RBNZ governor and labour making a mistake, admittedly in hindsight but we should look at it none the less considering the damage it has done to younger generations.
https://www.msn.com/en-nz/news/natio...b43f31fe357253
I appreciate the average self-centred homeowner does not see it as a problem.
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29-07-2022, 12:03 PM
#875
Originally Posted by dobby41
Luxon jumps on anything and everything - I wouldn't read anything into that.
A review would be good (and the RBNZ is doing so) so long as it is about learning rather than blame.
Indeed.
The review should also include the potential consequences of not acting boldy enough (or at all) so a fair comparison can be made.
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29-07-2022, 01:09 PM
#876
Originally Posted by Panda-NZ-
Indeed.
The review should also include the potential consequences of not acting boldy enough (or at all) so a fair comparison can be made.
True, house prices falling 10% instead of rising 30% would have been a disaster for many.
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02-08-2022, 11:59 AM
#877
Another RBNZ critic piling on.
I assume he would know what he is talking about. I agree QE seems misguided but what is wrong with requiring Australian owned banks keeping some capital in NZ. Complaints about Adrian embracing Maoritanga come across as racist even if it only highlights that Adrian is paid to worry about price stability yet he has failed miserably, while busy with other stuff.
https://www.stuff.co.nz/business/129...der-adrian-orr
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02-08-2022, 02:31 PM
#878
Originally Posted by Aaron
Another RBNZ critic piling on.
I assume he would know what he is talking about.
Never assume!
Maybe another person who wants 30s of fame.
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02-08-2022, 03:00 PM
#879
Originally Posted by dobby41
Never assume!
Maybe another person who wants 30s of fame.
I assume it because Mortlock, worked at the RBNZ for 24 years until 2007. I assume he picked up an understanding of the RBNZ's role over that time.
Last edited by Aaron; 02-08-2022 at 03:01 PM.
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02-08-2022, 03:02 PM
#880
Originally Posted by Aaron
I assume it because Mortlock, worked at the RBNZ for 24 years until 2007. I assume he picked up an understanding of the RBNZ's role over that time.
And I'd suggest not to assume as that experience is now 15 years out of date.
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