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Though we rail against Government policies it is important to occasionally draw breath and realise how lucky we are! This reminder from Sebastian Edwards’ paper at an NZ Treasury conference on macro imbalances: The way New Zealanders’ think about the economy reminds me of Woody Allen. In most of his movies, the main character (Woody […]
I see the RBNZ has come out with the details of the LVR restrictions (loan-to-value limits on mortgages) they may well put in place soon. That is cool. I’m also a big fan of the “question and answer” style discussion of people’s submissions here. Brennan McDonald summarises the details here. However, in the release about […]
Hey RBNZ, love your work and all that. But I have to point out something about today’s speech. I love seeing you guys discuss what is going on with the public, describing the factors, and talking about risks – this is incredibly valuable! And given your views, I get why you are jawboning the dollar, […]
On my list of future things to post on I had this post – which was intended to be a “bitch about rebalancing and targeting house prices for financial stability”. Ever since the crisis erupted I have, especially privately, called the “rebalancing” argument one of the most pathetic quasi-economic arguments imaginable. I found it difficult […]
Hey all, I’ve been away – and I still am. I’ll be back next week. However, I have to write on this. Over on Rates Blog, Bernard Hickey stated the following: The most interesting revelation from today’s Monetary Policy Statement was Graeme Wheeler’s comment that he knew other central banks were buying New Zealand government […]
Over on Rates Blog I’ve knocked up an entry on exchange rates. In it, I spend a bunch of time just talking about “what an exchange rate is” – all with the aim of turning around and saying that given it is a price, we need to understand what it is telling us and why […]