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Alan Bollard talks to the Finance and Expenditure Committee about monetary policy, the OCR’s effectiveness and the NZ economy
December 11th, 2009Reserve Bank Governor Alan Bollard appears before Parliament’s Finance and Expenditure Committee following the RBNZ’s December Monetary Policy Statement.
Tags: Alan Bollard, Monetary Policy Statement, MPS, OCR, RBNZ, Reserve Bank of New Zealand
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December 11th, 2009 at 8:01 pm
PS. They started before we could set up properly, the MPs sat at different distances from their microphones and a number of MPs’ cellphones had fun with the ole sound technology.
Cheers
Alex
December 11th, 2009 at 8:21 pm
Crikey Dick : This guy , with the assistance of his bevy of minders , gets $ 500 000 per year . And our man , resplendent in his tracksuit top , gets to battle daily with twits like me . There is no justice ! Why are you not in the hot seat , Bernie ? Where is his X-factor , that gets the respect / notoriety / adoring 18 y.o. groupies ?
December 11th, 2009 at 10:35 pm
Not a bigger bunch of deceitful looking chappy’s you could find, who is that chap on Bollards left arm, he looked like your camera was threatening to hang him. Good on you guys for shining some light on these proceedings, they have had it far to easy for far to long.
December 12th, 2009 at 7:02 am
I nicked the following comments from Brian Gaynor in the Herald….”…A sustained period of flat or slightly negative house prices would have a major impact on household balance sheets and disposable income, particularly if interest rates appreciate.
This impact would be worse than in the United States because of the following developments over the past decade and a half:
The median US house price has risen from US$135,000 to US$205,000 since the end of 1994.
The New Zealand median house price has increased from $134,000 to $355,000 over the same period…” BG (herald)
Now unless I came down in the last shower of rain, interest rates are rising and will go on doing so for some time until the inflation arrives …when rates will skyrocket!!!
“….would have a major impact on household balance sheets and disposable income….”
Yes it needed to be pasted again because the bit where Brian says “major impact” is the bit that should be flashing in red in front of Noddylanders. Forget about the fools in the Beehive, they are preoccupied wallowing in the trough. “Major impact” is like when a lump of iron the size of Everest hits at mach10…you just don’t want to be here. Likewise, you don’t want to be exposed when Brian’s “major impact” takes place….as it bloodywell will….or are you convinced this stupid govt in tandem with the RBNZ can prop up the property bubble with more and more cheap credit…an endless flow of immigrants and perpetual public stupidity..not to mention Mr Market remaining blind to the whole stinking property ponzi economy…if you are, then you must also believe in a flat earth and that the sun goes round the earth.
December 12th, 2009 at 11:09 am
From the guy on Bollard’s right;
- Mathematically impossible for everyone to have an undervalued currency.
- No chance of an export led recovery ($ overvalued) and by implication nothing can be done about that
- Unemployment has peaked, recession is over (chap on the right).
- Borrowing has to cover the current account deficit (can’t do anything about the strength of the $)
- CAD = 5% of what? (didn’t catch what proportion of that is interest, but it was a large percentage of that).
Print $NZ and buy other currencies (and sit on them, or buy gold) seems obvious. Play them at their game. What’s the worst that could be done with the printed $NZ spend it in NZ?.