Jim Reardon: Former Westpac Treasurer on the Reserve Bank's plan to buy foreign currency assets to protect the economy from a shock
The Mike Hosking Breakfast · Newstalk ZB
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Show Notes
Scepticism about the Reserve Bank's plan to add muscle so it can intervene in the currency market.
It's buying and borrowing more foreign currency assets to protect the economy from a big shock.
Former Westpac Treasurer Jim Reardon says it's an idea that sounds good in theory but would have very little value.
He told Mike Hosking that he's not sure the bank has enough resources to affect the market enough.
Reardon says history has shown the market will correct itself.
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