Reserve Bank Needs Slashing, Not Trimming

Commenting on news the Reserve Bank of New Zealand (RBNZ) plans to trim 142 roles, including 35 vacant positions, Taxpayers’ Union spokesman James Ross said:

“The Reserve Bank is more than two and a half times the size it was before Adrian Orr. These plans would only take RBNZ back to where it was in June 2023 - more a scratch than a slash.”

“The Bank is locking in the excesses of the last seven years and calling it restraint. We’d need triple the number of layoffs to get RBNZ back to its 2018 size.”

“Taxpayers deserve a central bank focused on price stability, not empire building. Too many cooks have spoiled the broth, and the new Governor needs to take an axe to Orr’s bloated legacy.”