Adrian Orr

Welcome to the show coming up today.

The report on how Adrian Orr screwed up the economy post-COVID has landed.

We'll get you across that.

Gloria Vale has lost its charity status.

Sam Emery, Australia correspondent, 18 away from five.

That

independent report has dropped on what Adrian Orr did wrong with the COVID response.

It's not telling you anything that you didn't already know, right? As you know, Adrian Orr stuffed up the COVID response and he's the reason that we're in the recession that we are right now.

Good afternoon.

The Independent report into how well or how badly the Reserve Bank under Adrian Orr handled the COVID and post-COVID era has landed.

It found the Reserve Bank was too slow to respond to rising inflation.

Former Reserve Bank economist Michael Riddell is with us.

Hi, Michael.

Hi, Heather.

Now, to be fair to Adrian Orr, the report says that the response started well.

But at what point did it start to go wrong?

So the report writers said that, I guess we know that.

What they did say though, is that it wasn't, they didn't squarely put this sort of at the feet of, the people who worked at the Reserve Bank during the pandemic, like Adrian Orr and Christian Hawksby, they said that actually the framework under which they were operating had vulnerabilities.

And if there was an equally intelligent group of people sitting around the table deciding what to do with the OCR now, then they'd face similar issues or mistakes would still be made.

I guess that was the take out in a nutshell.

fact

they did actually say equally intelligent people.

They were being very carefully not to besmirch the reputations of Adrian Orr and Kristen Hawksby and the rest of that team.

But it did seem to me, and of course, this was Nicola Willis's wording, but there was some criticism of Labour's dual mandate that it placed on the Reserve Bank in which the Reserve Bank had to take an unappointment into account.

Good afternoon.

The Independent report into how well or how badly the Reserve Bank under Adrian Orr handled the COVID and post-COVID era has landed.

It found the Reserve Bank was too slow to respond to rising inflation.

Former Reserve Bank economist Michael Riddell is with us.

Hi, Michael.

Hi, Heather.

Now, to be fair to Adrian Orr, the report says that the response started well.

But at what point did it start to go wrong?

You didn't need to employ financial heavyweights to find out what they did.

The report was commissioned by Treasury at the insistence of Nicola Willis, who probably wanted to remind us what a womble Adrian Orr was.

Although the report does suggest that given the Monetary Policy Committee's writing instructions, a different group of people could make the same errors that the original lot did.

Too much money, holding on too long, driving up inflation.

Good afternoon.

The Independent report into how well or how badly the Reserve Bank under Adrian Orr handled the COVID and post-COVID era has landed.

It found the Reserve Bank was too slow to respond to rising inflation.

Former Reserve Bank economist Michael Riddell is with us.

Hi, Michael.

Hi, Heather.

Now, to be fair to Adrian Orr, the report says that the response started well.

But at what point did it start to go wrong?

So we've had the independent review now into the Reserve Bank under Adrian Orr.

How did it do with COVID? How would it deal with the post-COVID era? Uh, no one's surprised.

It says the bank was too slow to withdraw the monetary stimulus as the economy recovered.

Gavin Gray, our UK-Europe correspondent, time is 11 away from six.

We've had the independent review now into the Reserve Bank under Adrian Orr.

How did it do with COVID? How would it deal with the post-COVID era? No one's surprised.

It says the bank was too slow to withdraw the monetary stimulus as the economy recovered.