The National Party says the government should rein in the Reserve Bank's plans to funnel $28 billion dollars into the financial system.
Their argument is that much of that money will likely benefit property investors and further fuel the overheated housing market.
Instead, National says, the government should intervene to make sure the cash ends up in the productive parts of the economy.
Jacinda Ardern says that would be a serious breach of the convention of the bank's independence from politics.
Dominick Stevens is Westpac's Chief Economist.
