Not sure why Orr's being dumped on & just want to put in a good word for our RBG.
Everything so up in the air at the moment with US China India tariff wars, Brexit & whole UK mess, massive debt, record low interest rates, housing etc, must be the most challenging period for RB in decades.
As RBG he's a breath of fresh air & a great communicator, trying to reach out to & convey some economic literacy to the 95% of the population (including most of the media who report this stuff) who somehow have reached adulthood without any curiosity or idea of finance & the way economic issues directly impact their lives.
Plus trying to increase protection for bank depositors ( & ultimately tax payers) in these uncertain times, against some pretty shonky undermining from the 'too big to let fail' banks who've been aided & abetted by some clueless journalism.
intelligent politicians have finally realised a deposit insurance scheme might be in NZ interest. As the only developed country without one it took long enough although its not been approved and is only in principle lets hope they get a move on the next crash might be just around the corner.
Deposit protection reduces case for RBNZ bank capital increase, Grant Robertson says
The Official Cash Rate (OCR) remains at 1.5 percent. Given the weaker global economic outlook and the risk of ongoing subdued domestic growth, a lower OCR may be needed over time to continue to meet our objectives
Originally Posted by 777
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