Reserve Bank's Orr laments 'short-termism'; spruiks NZ as global leader for change

Thu, 06 Sep 2018

By Tina Morrison Sept. 7 (BusinessDesk) - Reserve Bank governor Adrian Orr lamented the dominance of short-term thinking in his first public speech since taking over as head of the central bank in March. "I summarise the key plague on economic society as ‘short-termism’. This is the overt focus on the next day, week, or reporting cycle," Orr said in a speech to the Financial Services Council in Auckland. "A short-term focus can be driven by the need to survive from day-to-day. However, it is too often driven by the desire to consume a...

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