Opinion

Why I'm tired of the RBNZ blame game

Pattrick Smellie
Tue, 19 Jul 2022

Why I'm tired of the RBNZ blame game
The RBNZ's policy of least regrets has copped a lot of criticism. (Image: NZME)
Pattrick Smellie
Tue, 19 Jul 2022
With annual inflation peaking at 7.3% in New Zealand, the blame game is well and truly under way.It’s the government’s fault for injecting the thick end of $65 billion of made-up money into the economy and fuelling a consumer and asset price boom that literally nobody predicted when the pandemic first hit in March 2020.It’s the Reserve Bank’s fault for running loose monetary policy to accommodate the expected shocks of the pandemic and fuelling a consumer and asset price boom that literally nobody predicted when the pand...

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