Reserve Bank's LSAP outstayed its welcome in financial markets

Former central banker Geof Mortlock said money-printing was a mistake. (Image: ICNZ)

Mon, 24 Oct 2022

March 2020 was a very grim month. I vividly remember how frightened I was and the immense uncertainty everybody was feeling as we read the dire news coming out of Italy and that feeling of foreboding that we could be next.I also remember the urgency of the government and the Reserve Bank of New Zealand in addressing the crisis and it seemed like they were throwing every support they could imagine at the economy.It was obvious they were making policy on the hoof and that at least some of what they were doing would prove to be ineffective or a mi...

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