The Finance Minister has unveiled a major reduction to the Central Bank's planned spending.

The Government and the Reserve Bank have agreed to reduce operating expenses by a quarter in the coming year.

They've signed a five-year funding agreement, allowing $750 million of operating expenses, well below the $1 billion the Bank was asking for.

NZ Herald political editor Thomas Coughlan unpacks the announcement further.

LISTEN ABOVE

The Finance Minister has unveiled a major reduction to the Central Bank's planned spending.
The Government and the Reserve Bank have agreed to reduce operating expenses by a quarter in the coming year.
They've signed a five-year funding agreement, allowing $750 million of operating expenses, well below the $1 billion the Bank was asking for.
NZ Herald political editor Thomas Coughlan unpacks the announcement further.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Thomas Coughlan: NZ Herald political editor on Nicola Willis reducing the Reserve Bank's funding

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/70b07dcc-1d88-45c9-8163-b2c1005c6705/transcript