Thank goodness the NZ Herald still has one great investigative reporter, Kate McNamara. In her expose yesterday she asked whether Finance Minister Willis interfered in the decision to hold a new Reserve Bank review of the Big Aussie Bank Capital Requirements. We already know the answer. Yet Willis yesterday denied any political interference whatsoever in the Bank's decision to launch (another) Review. She stated in response to McNamara's question, "The minister completely rejects any inference of political interference .. The decision to .. review the Reserve Bank’s capital requirements was made by the Reserve Bank not the minister (although she has welcomed it)” There is overwhelming evidence against.
