More amiss at RBNZ than senior staff loss

RBNZ is giving out worrying signals. (Image: Escher)

Mon, 10 Jan 2022

The mass exodus of Reserve Bank of New Zealand (RBNZ) staff is but one symptom that something is amiss at one of our most important regulatory institutions.I doubt it's any coincidence that RBNZ is also one of our most unaccountable institutions.The quality of its research in recent years has been wanting.A recent example was its analytical note on house prices published on Nov 2. It looked at what has been driving house prices last year.It contained nary a mention of RBNZ's $55 billion large-scale asset programme (LSAP), a fancy name f...

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