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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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/4e4e405c-fb6b-4929-8584-b2c1005c5b7e/transcript