New Zealand MPs grill Orr on policy and personnel
Opposition leaders criticise RBNZ governor for high inflation and staff turnover
The governor of the Reserve Bank of New Zealand, Adrian Orr, is facing criticism from politicians over personnel turnover and inflation.
Opposition leaders questioned Orr on these topics on December 15, when the governor appeared before Parliament’s finance and expenditure committee.
Some of the criticism focused on high inflation, which came to 4.9% in the third quarter of 2021. The inflation target is 2%, with a tolerance band of 1% either way.
The RBNZ raised interest rates by 25 basis
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