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MNI BRIEF: RBNZ "Dodged a Bullet", Would Do It Again - Harris

MNI (PERTH)
(MNI) Perth
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Reserve Bank of New Zealand monetary policy committee external member Peter Harris has hit back at critics of the bank's track record, saying that he would largely make the same decisions again. The RBNZ released Harris' personal replies to a series of media questions, with one asking whether he agreed with Governor Adrian Orr's implication that the only incorrect decisions over the past few years were ones that required hindsight to avoid.

"Apart from marginal adjustments -- 25 basis points one way or another -- with hindsight I would have done exactly what we did," he wrote. "We dodged a bullet. Every analyst was predicting economic apocalypse and we saw off the horsemen."

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Reserve Bank of New Zealand monetary policy committee external member Peter Harris has hit back at critics of the bank's track record, saying that he would largely make the same decisions again. The RBNZ released Harris' personal replies to a series of media questions, with one asking whether he agreed with Governor Adrian Orr's implication that the only incorrect decisions over the past few years were ones that required hindsight to avoid.

"Apart from marginal adjustments -- 25 basis points one way or another -- with hindsight I would have done exactly what we did," he wrote. "We dodged a bullet. Every analyst was predicting economic apocalypse and we saw off the horsemen."

Keep reading...Show less