Mediaworks broke Reserve Bank lockup rules
The Reserve Bank announced: An independent investigation has confirmed that highly sensitive and valuable market information on the March Official Cash Rate (OCR) cut decision was leaked by a...
View ArticleShould Reserve Bank Governors have to retire at 70
Michael Reddell blogs: Someone who has paid closer attention to some of the details of those provisions than I have pointed out to me recently clause 46(1)(c) of the Reserve Bank Act. Under the...
View ArticleMediaworks denied they were the leak
Stuff reports: New documents cast doubt on Newshub’s claim that it admitted leaking an interest rate decision before it was investigated. … However Reserve Bank Governor Graeme Wheeler had earlier...
View ArticleProperty investors will need a 40% deposit
The Herald reports: Property investors will need a 40 per cent deposit under tough new restrictions revealed today. The new rules are being urgently introduced in an attempt to put a lid on New...
View ArticleQuigley appointed Reserve Bank Chair
Stuff reports: University of Waikato vice-chancellor Professor Neil Quigley has been elected as chairman of the Reserve Bank, as Dr Rod Carr reveals he is quitting the board. In a statement the Reserve...
View ArticleThe next Reserve Bank Governor
Hamish Rutherford has an excellent article looking at the likely contenders to be the next Reserve Bank Governor. In summary they are: Adrian Orr, CE NZ Super Fund, former Reserve Bank Deputy Governor,...
View ArticleWheeler retires
The Herald reports: Reserve Bank Governor Graeme Wheeler will step down at the end of his current term on September 26, Finance Minister Stephen Joyce confirmed today. Current Deputy Reserve Bank...
View ArticleGovernor vs committee?
Stuff reports: The Reserve Bank governor’s power over interest rate decisions will be reviewed, after years of denials by the National government that this issue needed to be considered. Former State...
View ArticleA meaningless change says ANZ
Stuff reports: Adding employment to the Reserve Bank’s targets may be no more than a “cosmetic” change, economists warn. On Monday Labour formally proposed adding a “commitment to full employment” to...
View ArticleEnglish rules out DTIs
Stuff reports: Prime Minister Bill English has ruled out allowing the Reserve Bank to introduce further curbs to home lending, and has signalled it should have a plan to remove a key lending...
View ArticleOrr gets Reserve Bank Governor
The Herald reports: The appointment of Adrian Orr as New Zealand’s next Reserve Bank Governor was met with a surge in the kiwi dollar – indicating markets see the current chief executive of the NZ...
View ArticleA meaningless virtue signalling change
Stuff reports: The Reserve Bank will be required to consider how it can maximise employment when it is setting interest rates. Adrian Orr, who becomes governor of the Reserve Bank on Tuesday, signed...
View ArticleReserve Bank says Kiwibuild will not grow housing supply
Stuff reports: Up to three quarters of what KiwiBuild adds to housing investment will be offset by lower investment by the private sector, the Reserve Bank warns.On Thursday morning, Reserve Bank...
View ArticleBanks vs Reserve Bank
Stuff reports: New Zealand’s banks are calling for the Reserve Bank to rethink its plan to require them to hold more capital to help withstand financial shocks, claiming it risks putting “a handbrake”...
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Nowhere to fall
As you can see the OCR can’t fall much lower. While a low OCR is good for home owners (but bad for savers) the real risk is if there is another global or domestic recession. There is basically no room...
View ArticleWeird contradiction from Orr
Stuff reports: Reserve Bank governor Adrian Orr aimed another shot at the big four Australian-owned banks, warning that none of them were too big to fail. “There’s always been a concept: too big to...
View ArticleIs the Governor a bully?
Kate MacNamara at Stuff writes: Reserve Bank governor Adrian Orr would like to see the big and very profitable Australian banks, which dominate the New Zealand market, put up more of their own money...
View ArticleBullying is a bad look
Stuff reported: The governor of the Reserve Bank upbraided the head of one of New Zealand’s largest think tanks last year in a clash that included claims by the governor of “ongoing character...
View ArticleReserve Bank panned in MBIE independent advice
Stuff reports: Independent advice provided to the Government last year warned that the Reserve Bank’s plan to boost bank capital risked damaging the New Zealand economy.A nine page memorandum was...
View ArticleThe broken Reserve Bank
Bryce Wilkinson has published a report for the NZ Initiative detailing all the problems at the Reserve Bank. It is a somewhat depressing read as the Reserve Bank used to be one of the most respected...
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