Don Brash talks monetary policy at Massey
massey-university
Tue Jul 23 2013 12:00:00 GMT+1200 (New Zealand Standard Time)
Don Brash talks monetary policy at Massey
Tuesday, 23 July 2013, 3:16 pm
Press Release: Massey University
Tuesday, July 23, 2013
Don Brash talks monetary policy at Massey
Massey University’s Business Student Group will bring together experts, including former Reserve Bank governor Dr Don Brash, to discuss some of the biggest economic issues New Zealand currently faces.
The event, called ‘This Is Your Livelihood’, will take place at the university’s Albany campus on July 30. A panel of experts will give their views on a range of topics, including monetary policy, how best to deal with New Zealand’s property bubble, and whether the government’s partial asset sales programme has been a success.
On the panel are:
• Dr Don Brash, former Reserve Bank governor
• Bevan Graham, AMP chief economist
• Tim Ng, acting head of economics at the Reserve Bank
• Associate Professor David Tripe, director of Massey University’s Centre for Financial Services and Markets
Associate Professor David Tripe, who will facilitate the panel discussion, says he is particularly keen to hear if Dr Brash, who left the Reserve more than a decade go, “would do anything different to the current regime”.
The Business Student Group (BSG) has identified four questions for the panel to discuss, and Dr Tripe is confident that panel members will offer a range of perspectives and plenty of robust debate.
The four questions that will be put forward to the experts are:
What are the main monetary policy challenges facing the Reserve Bank at the current time, and what impact are these challenges having on the banking sector?
What impact will the implementation of the Reserve Bank’s proposed macro-prudential rules have, including on homebuyers? What are the strengths and weaknesses of alternatives to the suggested approach of limiting loan-to-value ratios (LVRs)?
What are the benefits and costs of using foreign exchange intervention to limit exchange rate volatility?
How successful has the partial sale of Mighty River Power been? What lessons does it provide for future partial floats of other state-owned enterprises?
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Dr Tripe admits he has some strongly-held views on whether macro-prudential policy instruments should be used to cool New Zealand’s housing market – and they differ from those held by the Reserve Bank.
“Basically, I don’t believe restricting LVRs is the right tool for dealing with housing shortages in Auckland and Christchurch,” he says. “With the Reserve Bank looking to introduce limits in September or possibly even sooner, I think there will definitely be differing views from the panel on this issue.”
Economics student and BSG member Jonathan McDonald, who is organising the event, says the focus on monetary policy is due to its critical importance to the lives of all New Zealanders.
“While people might get turned off by the term ‘monetary policy’, it affects everyone’s lives – whether you’re buying a house, have savings in the bank, or trying to get a job.”
McDonald is hoping for a wide-ranging audience who will participate in an evening of stimulating discussion.
Even banking specialist Dr Tripe expects he’ll learn a thing or two. “I’m really interested to see how all these things are viewed by the public. Forums always throw up new perspectives and I will inevitably get insights into things I already thought I knew all about.”
This Is Your Livelihood – Contemporary Monetary Policy Challenges in New Zealand
Date: Tuesday July 30, 2013
Time: 4.30pm – 5.00pm Networking; 5.00pm – 6.30pm Panel discussion
Venue: Sir Neil Waters Lecture Theatres, Massey University, Albany Campus
RSVP: bsg@massey.ac.nz to reserve a seat.
ENDS
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