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Top croakingcassandra.com News

Former Reserve Bank boss Adrian Orr joins Cook Islands Super board
Reserve Bank · New Zealand

Former Reserve Bank boss Adrian Orr joins Cook Islands Super board

100% Center coverage: 2 sources
By RNZ Former Reserve Bank Governor Adrian Orr has become a member of the Cook Islands National Superannuation Fund board. Orr has family links to the Cooks...See the Story
Reserve Bank planned spending: 12% up on 2023/24
Reserve Bank · Wellington

Reserve Bank planned spending: 12% up on 2023/24

Yesterday’s post focused on the puzzling events around the adoption of last year’s Reserve Bank budget: the board planned to spend massively above what the Funding Agreement had allowed and for reasons still totally obscure neither Treasury nor the Minister of Finance raised any concerns whatever. A few months ago now, after Orr had left the scene (with many questions still unanswered), a new Funding Agreement for 2025-30 was signed. I noted the…Read Article
What were the Minister and Treasury doing?
Wellington, New Zealand · Wellington

What were the Minister and Treasury doing?

Four weeks ago I noted that I was going to be tied up for the following couple of weeks. Between a busy trip to Papua New Guinea, the extremely dubious governance of the Reserve Bank superannuation scheme, various family members coming to stay, and a health relapse all that turned into a rather longer break from the blog than I’d expected/intended. But in that time, several interesting responses to Official Information Act requests turned up. My…Read Article

NIFDA Appoints New Board Member

The Northern Ireland Food and Drink Association (NIFDA) has appointed Bernie Orr, chief financial officer at SHS Group, to its board. Orr, who has experience in the fast-moving consumer goods sector, was named to the role during NIFDA’s 29th annual general meeting (AGM) at Craigavon Civic Centre on 4 June.  Her appointment is intended to strengthen the organisation’s representation across the food and drink supply chain. The AGM brought together…New Zealand · New ZealandSee the Story

Internal Documents Reveal Why Adrian Orr Resigned as Reserve Bank Governor

74% Center coverage: 8 sources
The Reserve Bank of New Zealand (RBNZ) has confirmed Adrian Orr resigned as Governor as he wanted more funding for the central bank than the Government was...Central Bank · New ZealandSee the Story

‘The Bank Really Is in a Difficult Position Here’: Why the BoC Faces ‘Risky’ Interest Rate Decision

50% Left coverage: 12 sources
Some economists say Bank of Canada governor Tiff Macklem finds himself in his own high-stakes circumstances with the central bank’s interest rate decision on Wednesday.Tom CruiseSee the Story

May Monetary Policy Statement

Michael Reddell writes – Procrastinating this morning, I asked Grok to write a post in my style on yesterday’s Monetary Policy Statement. Suffice to say, I think I’ll stick to thinking and writing for myself for the time being. Among the many oddities of Grok’s product was the conviction that Adrian Orr was still Governor. Mercifully […]New Zealand · New ZealandSee the Story

Some more post-Budget thoughts

On two separate themes; aggregate fiscal policy, and the Investment Boost initiative. Aggregate fiscal policy Over the weekend for some reason I was prompted to look up the Budget Responsibility Rules that Labour and the Greens committed to in early 2017 (my commentary on them here). At the time, the intention seemed to be to […]New Zealand · New ZealandSee the Story

The (deeply underwhelming) Budget

There were good things in the Budget. There may be few/no votes in better macroeconomic statistics and, specifically, a monthly CPI but – years late (for which the current government can’t really be blamed) – it is finally going to happen. I went along to the Budget lock-up today (first time ever), mostly to help out the Taxpayers’ Union with their analysis and commentary. At least from my (macroeconomist’s) perspective there were two areas to f…New Zealand · New ZealandRead Article

Hard to believe really

Take a scenario, just as a thought experiment for now. A new government gets elected, amid a lot of rhetoric about excessive increases in government spending and public service numbers. They pretty quickly move to require government departments – typically funded by Parliament through annual appropriations – to cut their spending. Typically these agencies were being expected to make cuts of 6.5 per cent or 7.5 per cent. You are part of the gover…Relationships · New ZealandSee the Story

Bad advice on public sector discount rates

A couple of months ago now I wrote a post about the new set of discount rates government agencies are supposed to use in undertaking cost-benefit analysis, whether for new spending projects or for regulatory initiatives. The new, radically altered, framework had come into effect from 1 October last year, but with no publicity (except […]New Zealand · New ZealandSee the Story

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