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Shane Jones Has the Reserve Bank Ready to Change Its Nappies

The people have spoken. 
 
Shane Jones has spoken. He will continue to speak. 
 
And don’t we love the change that has now become reality with a 3 way government coalition.
 
Shane Jones has been Associate Minister for Finance before, and he is once again.
 
Jones is a no nonsense, no bullshit guy – exactly what this country needs. His interview eloquence is that of no other. 
 
The Reserve Bank needs a shake up, and Jones, working alongside Finance Minister, Nicola Willis, IS the man for the job. 
 
There is no doubt that Adrian Orr had some sort of abnormal relationship with Grant Robertson.
 
The Reserve Bank should be impartial, and a stand alone monetary moderator for all of NZ.
 
After todays reports in the ‘soon to be deceased’ main stream media in NZ, it is quite apparent that concerns have been raised as to ‘bombastic personalities’ – that is related to Shane Jones, and incumbent Reserve Bank Governor, Adrian Orr. 
 
Some are saying the Reserve Bank has ’some concern’ as to how Jones might approach his term…. GOOD.
 
The Reserve Bank is about to find out that the way it has conducted itself over the last 6 years has been detrimental to NZ.
 
The cosy ‘Robertson/Orr’ relationship is over. 
 
Frankly the relationship should have never been allowed. 
 
Staff numbers at the bank had increased from 255 in June 2018 to 454 in June 2022.
 
“It had a big increase in funding a few months ago which runs until 2025. They can’t do anything about the bank’s budget right away but they can put the message there that when it comes back for money it’s going to be getting less.”
 
Reddell said the Government should be looking at how the bank could make better appointments to the Monetary policy Committee, rather than seeking advice on whether to move back to a “single decision-maker” model.
 
Geof Mortlock, a former senior Reserve Bank staffer, said the bank’s workforce was right to be worried – but not just about Jones.
“Nicola Willis will want to make some fundamental changes. There are lots of issues it needs to focus on… should they be worried? I think justifiably so.”
 
Another economist, Cameron Bagrie, said the independence of the Reserve Bank needed to be respected but there should be accountability (something that has surely been lacking over the last 6 years). 
 
“Where I have a few concerns is the board. It’s a very important institution that needs the right governance in place. If there is a question to be asked it needs to be asked at the very top.”
 
It is another job to be done for NZ, and Shane Jones is the man to do it. 
NZ has seen more progress in the last week than its seen in the last 6 years! 
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