The aggressively nationalist Kiwi central bank boss Adrian Orr deliberately pushed New Zealand into recession. Australian bankers hope his sudden exit will give them some relief.
People who have dealt with Adrian Orr say he had made it privately clear he did not intend to finish his five-year term. Bethany Rae
Adrian Orr was able to “finish on a high”. That was one way for his deputy to describe the controversial Reserve Bank of New Zealand governor’s shock and unexplained exit at 1.30pm on Wednesday last week, three years ahead of finishing his second term.
Like, he’s done. Out the building less than 24 hours before he was supposed to host the RBNZ’s big two-day conference to mark 35 years of the Kiwi central bank’s world-leading move to pioneer low-inflation targeting.
Michael StutchburyEditor-at-largeMichael Stutchbury is editor-at-large. He is in his fourth decade of writing for and editing national newspapers. After nearly six years as editor of The Australian, he returned to the Financial Review as editor-in-chief (2011-2024). Email Michael at mstutchbury@afr.com
