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OPINION: At the start of Graeme Wheeler’s press conference on his decision to cut interest rates, the Reserve Bank governor cracked a joke, but one that almost might as well be true.
Introducing students from Waikato Diocesan School for Girls, winners of the central bank’s nationwide monetary policy challenge, he suggested that if it got too tough, one of them could sub in for him.
Wheeler then proceeded to give answers almost suggesting it might not matter who did his job.
Having cut interest rates to a fresh all time low and told financial markets that the New Zealand dollar “needed” to be weaker, the markets completely ignored him.
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Reserve Bank governor Graeme Wheeler
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