When I stopped regular blogging in December I wrote
This is one of those issues that has really got my goat. (There won’t be any other return to blogging, although if I make a submission to the government’s belated independent review of Covid-era monetary policy I might put a link to that in a post.)
It is a nice summer evening in Wellington and would be a good time to be at the beach but….well…We...
The strongest version of this narrative is that the Reserve Bank Governor acted hastily in signing a statement with international implications, failing to consult key stakeholders and subsequently attempting to justify the decision with misleading claims about urgency. The Governor's apology and the Bank's eventual release of documents suggest some accountability, but the episode reveals deeper issues of governance and transparency. The Governor's commitment to openness is undermined by the dela...