Graeme Wheeler says central banks made 'serious errors' since 2019

Graeme Wheeler has taken the rare step of criticising his successor

Tue, 26 Jul 2022

Central banks around the world need to acknowledge they made major mistakes since 2019 that resulted in today’s rampant inflation, according to former Reserve Bank governor Graeme Wheeler.“Central banks have made some serious errors of judgement in conducting monetary policy over the last two years,” Wheeler said on a New Zealand Initiative podcast, pointing to inflation rates at 40-year highs in the US and Britain.NZ’s inflation rate in the June quarter hit 7.3%, a 32-year high, while Britain’s was at 9.4% and the...

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