28 Jul 2022

Second former Reserve Bank staffer criticises current moves

From Morning Report, 7:46 am on 28 July 2022

Former Reserve Bank chairman Arthur Grimes says there's a lack of knowledge at the bank on how to run monetary policy, and change is needed.

It follows criticism by former Reserve Bank Governor Graeme Wheeler that the bank, and others, made serious mistakes during the pandemic, allowing inflation to get out of control.

Grimes is now a professor at Victoria University of Wellington's School of Government.

He spoke to Corin Dann.