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The Reserve Bank’s Board


croaking cassandra

I’m not an NBR subscriber but I’d been told that last Friday’s edition was quoting me on various aspects of Reserve Bank reform, so when I was in town yesterday I picked up a copy.  I’ll come back later in the post to that article by Jenny Ruth.

But, as it happened, there was another substantial piece in the same issue of NBR also calling for an overhaul of the Reserve Bank governance model.  This one was from Roger Partridge, chairman of the New Zealand Initiative.

The New Zealand Initiative will, no doubt fairly, tell you that they don’t represent any particular interests.  Nonetheless, in Australian parlance, their membership makes up the “big end of town”.  In particular, all four main banks (and a couple of the smaller one) are members, and the Board includes the chair of the Financial Markets Authority and a (until recently) CEO of one…

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