THE FACTS
Finance Minister Nicola Willis has announced an inquiry into the Reserve Bank’s monetary policy decisions during the pandemic, which will report back in September. The Reserve Bank’s LSAP programme printed $55 billion in digital money, significantly impacting the housing market and costing taxpayers over $10 billion. While the inquiry is deemed necessary, its timing, just weeks before the election, may undermine its potential benefits. This inquiry aims to assess the effectiveness of the Reserve Bank’s pandemic response.
