Media release: Foresight economics correctly predicted New Zealand’s loss of price stability

Wellington (Thursday, 28 July 2022): In response to criticism of the Reserve Bank’s performance over the past four years, the Prime Minister and the Minister of Finance have accused critics of applying ‘hindsight economics’. Nothing could be further from the truth. Read more

Dr Oliver Hartwich
Dr Bryce Wilkinson
Media Release
28 July, 2022

Media Release: How central bank mistakes after 2019 led to inflation

Central banks globally have made serious monetary policy mistakes To restore credibility, they must acknowledge and correct those mistakes Wellington (Tuesday, 26 July 2022) – A research note released today by The New Zealand Initiative mainly attributes the outbreak of inflation in many economies to central bank mistakes. Co-authored by Graeme Wheeler, former Governor of the Reserve Bank of New Zealand, and Bryce Wilkinson, Senior Research Fellow at The New Zealand Initiative, the paper argues that central banks overall: were too confident about their monetary policy framework; were too confident about their models; were too confident they could control output and employment; lost their focus on price stability and took on too many mandates; faced conflicts in some cases with conflicting ‘dual mandate’ objectives; and were distracted by extraneous political objectives, such as climate change. Read more

26 July, 2022
RNZ Morning Report square

Reserve Bank made mistakes which led to out of control inflation

The New Zealand Initiative has denounced the Reserve Bank, and other central banks for making what it says are serious mistakes which led to inflation getting out of control. The paper, released this morning, says central banks were too confident in their abilities, their policies, and their assumptions, and forgot what their core jobs were. Read more

Dr Bryce Wilkinson
Radio NZ - Morning Report
26 July, 2022
TodayFM Tova OBrien

Former Reserve Bank Governor says central bank may have added to global inflation

It’s not so much Russia or COVID that caused inflation but central banks and the extraordinary stimulus they helped create. That’s according to a former Reserve Bank Governor who’s co-authored an excoriating review of the role Central Banks played in our current inflationary crisis. Read more

Dr Bryce Wilkinson
Today FM - Tova O'Brien
26 July, 2022
a lawsbroadcaster

Michael Laws from The Platform interviews Dr Michael Johnston about the NCEA pilot assessment on literacy and numeracy

Just one third of the students participating in a pilot of new literacy and numeracy assessments for NCEA passed the writing assessment, and only two thirds passed each of the reading and numeracy assessments. Michael Johnston talks to Michael Laws, The Platform about the alarming results. Read more

Dr Michael Johnston
The Platform - Michael Laws
22 July, 2022
Education funding square

Michael Johnston discusses the alarming results from a pilot of new literacy and numeracy assessments for NCEA

Just one third of the students participating in a pilot of new literacy and numeracy assessments for NCEA passed the writing assessment, and only two thirds passed each of the reading and numeracy assessments. Michael Johnston talks to Andrew Dickens, Newstalk ZB about the these alarming results and what needs to be done about it. Read more

Dr Michael Johnston
Newstalk ZB - Heather du Plessis-Allan Drive
19 July, 2022

Stay in the loop: Subscribe to updates