10 Nov 2022

Reserve Bank gives itself a pat on the back

From Midday Report, 12:11 pm on 10 November 2022

The Reserve Bank thinks it's made pretty good decisions on monetary policy over the past five years, given the information it had to hand at the time.

It says its support for banks and financial markets kept money flowing.

But it says in hindsight, some of its pandemic-related measures should have eased or ended earlier including its government bond-buying programme; the Funding for Lenders Programme; and raising interest rates earlier after the economy picked up.

A former Reserve Bank economist Michael Reddell spoke with Jimmy Ellingham