ADRIAN ORR our NEW RBNZ GOVERNOR

[winner69]

Well, he did cut and says more to come

Good for many now but I fear we will look back in 2021 and say why did he do it.

Must have a different agenda from than just caring for monetary policy.

[Aaron]

Well, he did cut and says more to come

Good for many now but I fear we will look back in 2021 and say why did he do it.

Must have a different agenda from than just caring for monetary policy.

The Reserve Bank manages monetary policy to maintain price stability, promotes the maintenance of a sound and efficient financial system, and supplies New Zealand banknotes and coins.

1/Price stability by my definition is not pushing the price of everything up by 1-3% per year. Worse they are pushing asset prices up way ahead of general inflation and the price of other goods.

2/Promote the maintenance of a sound and efficient financial system. Is that why the NZ taxpayer provided a guarantee to the businesses in the financial sector in 2008/09. The rate cut is to protect house prices which is the security underpinning the NZ financial system. I would suggest the Reserve Bank is beholden to the financial services industry.

3/Supplies NZ bank notes and coins.

1 out of 3 ain't bad.

Stealing off people who save and invest for the benefit of spendthrifts and gamblers seems wrong to me but what do I know.