I know many people will be thinking, ‘what has the Reserve Bank Governor got to say about anything long-term? Doesn’t the Bank just sit and watch for outbreaks of inflation – shifting the official interest rate on a needs-be basis?
Some will even comment publicly, ‘How dare the Governor speak outside of their 1 to 3 percent inflation mandate!’ I hope to convince you we have a strong vested interest in, and influence on, the long-term economic wellbeing of New Zealand.