RBNZ's poor policy process puts its credibility at risk: former official

Wed, 15 May 2019

By Jenny Ruth May 15 (BusinessDesk) - The Reserve Bank’s third discussion paper on its bank capital proposals points to a lack of robust policy process, is an embarrassment to New Zealand and undermines the central bank’s credibility, according to a former Reserve Bank official. The central bank “has had to resort to some bizarre arguments to make the unworkable work in an increasingly desperate attempt to shore up some unwise decision-making,” says Ian Harrison in his critique of that third paper which was issued in April. The bank ca...

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