Photo: RNZThe government is launching a surprise review of the Reserve Bank's response to the Covid-19 pandemic, due to be published just months out from the election. It would also look at the coordination of monetary and fiscal policy - that is, how the bank's response interacted with the government's. "The Reserve Bank of New Zealand took unprecedented action in response to the Covid-19 pandemic," Willis said. "During Covid, the Reserve Bank lost its mind and we're still paying for it. Archer was a former Reserve Bank assistant governor and former head of the Central Banking Studies Unit at the Bank for International Settlements.

Source: Otago Daily Times February 11, 2026 03:45 UTC