Originally Posted by
Aaron
There have been arguments the central banks should not have the full employment job, just price stabilty. Do we have price stability?
“promoting and protecting financial stability and ultimately the prosperity and wellbeing of all New Zealanders”.
This is a big ask ..... and a big risk
My take is that Grant Robertson has passed the buck to Orr/RBNZ so there is someone else to blame if things go bad.
Eg the 1BN extra into the economy by the Govt* to assist house buyers, via the RBNZ*, who gave it to the banks* who lent it not to first home or little kiwi battlers but to the biggest borrowers. (* without conditions it would seem)
Sam apparently thinks you can't blame the Govt, or the RBNZ, but the "greedy banks" who just do what banks do ...
My take (E&OE) may well be wrong, is the RBNZ has too many priority A responsibilities, may fail on a few ...
What do you think?