'The world according to Orr': growing concern RBNZ losing institutional memory

Professor Arthur Grimes says previous governors prized dissent. (Photo: Motu)

Fri, 17 Dec 2021

Former senior Reserve Bank people and those who have closely observed it are concerned so many are leaving the central bank that it's threatening its institutional memory."A central bank is a pillar of stability for an economy. A central bank is an institution that's required for the stability of the economy," said Arthur Grimes, currently a professor at Victoria University and a fellow at Motu research foundation. "Institutional memory is hugely important because otherwise you lose sight of the mistakes and problems...

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