Reserve Bank chair Neil Quigley resigns with immediate effect
Reserve Bank chair Neil Quigley has resigned with “immediate effect” after months of scrutiny of his handling of Adrian Orr’s resignation as Governor.
The announcement arrived on Friday evening in a brief statement from Finance Minister Nicola Willis, thanking Quigley for his 15 years of service on the board, nine of them as chair.
“Mr Quigley has decided that having overseen a number of key workstreams for the Bank, now is the appropriate time for him to hand over to a new Chair,” Willis said.
“He leaves the Bank well-positioned for the future. I thank him for his service and wish him well for the future.”
Speaking to RNZ shortly after, Willis was more forthcoming. She said Quigley tendered his resignation following a discussion with her earlier on Friday about the “ongoing criticism” of the board’s handling of information surrounding Orr’s departure on 5 March.
“My concern was that the bank’s reputation was being impacted. He agreed with me that that was a serious matter,” Willis told RNZ.
“If he had not offered his resignation, I would have asked him for it.”
The Taxpayer’s Union have been calling on Nicola Willis to sack Quigley under the same pretence Willis has used, when in reality both TU and Willis want to really appoint some free market fanatic to the role.
Forget independence after Luxon admitted that he was pressuring the Reserve Bank to lower rates WHILE he is looking too lower the capital requirements for Banks.
Remember. this has all transpired after Orr was set up and fired!
It’s a Cargo Cult minus the cargo!
To quote Matthew Hooton…
Imagine Jacinda Ardern is Prime Minister. She goes on a generally friendly media outlet for a weekly chat. Despite not being under any particular pressure by the interviewer, she ends up saying that she meets privately with the Governor of the Reserve Bank before official cash rate decisions, and gives her “reckons”’ or “views” or “perspectives” on what the monetary policy committee should decide. What then happens in the media and political worlds?
Ok.
Who would scream fascist first if Jacinda had done what Luxon did this week?
A) Mike Hosking
B) Sean Plunkett
C) Heather Du Plussie Allan?
D) Damien Grant
E) Jordan Williams
F) Peter Williams
G) The Taxpayers’ Union
H) Federated Farmers
I) Groundswell
J) All of the above?
We all know the answer is J.
Brothers and Sisters – are you all fully cognitive of what our Prime Minister is attempting to do here?
Luxon is so desperate he is manufacturing a speculative property bubble and harassing the Reserve Bank to do it!
Our under regulated neoliberal capitalism is already rigged for the rich, and yet here’s Luxon actively putting his hand on the scales to tip the whole bloody thing over.
This isn’t policy, it’s economic vandalism!
National’s plan (after their slash and burn economic vandalism) is to sell citizenships to 215 Gold Visa multimillionaires, change the overseas investment rules to allow those new multi-millionaire ‘citizens’ to buy residential property and the Prime Minister just breached the Independence of the Reserve Bank all to inflate a speculative property bubble!
Is that the best economic growth plan National, ACT and NZF can create?
A speculative housing bubble?
Has Nicola Willis taken our economy to market and sold it for 3 free market magic beans?
Look.
70 000 NZers have left the country
16000 jobs destroyed in the Construction industry
30 000 jobs gone
5.2% unemployment
Workers rights attacked
Pay Parity kneecappings
Privatization by stealth and donors deregulation interests given priority over the common good
To use the technical term comrades, the Economy is rooted bro!
All this Government has now is whoring off our citizenships to the ultra rich in the hope of re-igniting the speculative housing bubble.
That’s it!
Surely you can’t hate Jacinda for saving us from a once in a century pandemic this much?
If you voted National, ACT or NZF – this abomination is all on you.
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If people are leaving the country and rents are falling because there is not enough money left after food and electric to pay rent then expection for increased property price is gone. There are no covid kiwis returning with pounds and usd to buy housing. Why would overseas investors want to buy into a housing market that sits on top of an economy that’s quite a lot fckd. This govts actions have destroyed demand. It could be difficult to kick off a housing bubble with just lower interest rates.
Idiots before the election
Idiots voted them in
Idiots still
Thanks squashed middle for enabling the rich idiots to fleece the real workers and real kiwis who make NZ TICK .
plus 1 !!!! to that.
There still old pakeha that still think this government can do no wrong even though their policies are affecting them it’s fucken frustrating to see my old pakeha acquaintance bye into the Maori hating BS even though I’m Maori and they’re friendly to my face vote against their own interest
Ingrained racisim is alive and well ,but so long as we are fucking over the Maoris while my job or business is going broke ,alls well
Obviously hypocrisy. There should not be an independent reserve bank that doesn’t work in the interests of the people of New Zealand, but if this was being done by a moderate right wing Labour PM it would come under real criticism by the regime media.
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