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Opinion

Spending huge to save us all

Brian Gaynor
Sat, 31 Oct 2020

Spending huge to save us all
Brian Gaynor
Sat, 31 Oct 2020
Reserve Bank Governor Adrian Orr is the country’s biggest spender by a wide margin. So far this year he has purchased an additional $44.2 billion worth of New Zealand government securities, an impressive $161.9 million for every day of the year.The Orr strategy, which is another term for money printing or quantitative easing, is having a massive impact on asset prices, particularly residential property.Unfortunately, there are no clear precedents that allow us to assess the outcome when this money printing press is finally shut down....

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