In response to criticism of the Reserve Bank’s performance over the past four years, the Prime Minister and the Minister of Finance have accused critics of applying ‘hindsight economics’.
Nothing could be further from the truth. The New Zealand Initiative has been consistent in its warnings of loose monetary policy, the RBNZ’s loss of focus on price stability and its preference for stimulus.
To put the record straight, here are just some examples of how the Initiative has commented on RBNZ policy since 2018.
