A former Reserve Bank economist is calling out his former employers' lack of transparency.

The bank today revealed Adrian Orr quit as Governor in March, when the five-year funding for the RBNZ was much less than anticipated. 

Michael Reddell says the bank waited far too long to say why Orr left so abruptly.  

"It's just extraordinary - maybe they couldn't tell us the full story on the day, but the new Reserve Bank funding agreement was published on the 16th of April. There's absolutely no excuse at this point for lack of clarity." 

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