Opinion

Spending huge to save us all

Brian Gaynor
Sat, 31 Oct 2020

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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