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alwyn 14.1.2.1.1
I think it is a desperate attempt by Robertson to try and set up the RBNZ as the people who cop the blame for the shambles that this Government has been making of the housing market for the last three and a half years.
I suspect it will backfire on him (Robertson). Orr is far to smart to allow Robertson to get away with such a transparent attempt to pass the parcel.
Orr is quite likely to take it as an invitation to tell Robertson, publicly, what he thinks will be required to fix the housing situation. Nothing he proposes will be something the the RBNZ can do. Everything will be something that requires fiscal action by Robertson himself. It will be on the basis of If you don t do this it will get worse . What he will suggest is very unlikely to be acceptable to the Government but Orr can then continue in the future to propose that if the Government had only followed our advice…… etc .