Brad Olsen: Economist says central banks should have acted sooner once they knew impact pandemic was going to have
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
The Reserve Bank is being urged to show more urgency in its efforts to curb inflation.
Governor Adrian Orr has acknowledged interest rate decisions he has made during the Covid pandemic, have contributed to inflation reaching the level it has.
National is now calling for an independent review of the central bank's monetary policy response.
Infometrics Principal Economist Brad Olsen told Kate Hawkesby central banks, both here and overseas, should have acted sooner once they knew the impact the pandemic was going to have.
“When the facts change, when the economy started to shift, when we saw inflation starting to come forward, we had to react. In fact, we took far too long to move from one foot to the other.”
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