RBNZ needs to remove money printing from its tool kit

The Reserve Bank should remove money printing from its tool kit. (Image: Getty)

Mon, 22 Aug 2022

The Reserve Bank of New Zealand uncharacteristically admitted one mistake last Thursday, that monetary policy was too stimulatory “at some stage during the tumultuous economic period of the pandemic”.Maybe we should be thankful for small mercies, but with inflation running at nearly four times the midpoint of the Reserve Bank of NZ's (RBNZ) 1% to 3% target, this is little more than stating the bleeding obvious.In its “background paper” on the large-scale asset purchase programme (LSAP) and funding-for-lending program...

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