Reserve Bank Governor refuses to answer questions

Michael Reddell at Croaking Cassandra writes about yesterday’s news conference with Graeme Wheeler, Governor of the Reserve Bank:

…the outgoing Governor of the Reserve Bank today both refused to accept that he’d made any mistakes, while refusing any comment at all on some of the more searching questions.

The news conference was on the occasion of the release of his statutory monetary policy accountability document, the Monetary Policy Statement.    It was the last opportunity journalists will get to question him.

And yet faced with questions about the Toplis affair (his use of public resources, including his senior managers, to attempt to close down critical commentary from an employee of an organisation the Bank regulates), he simply refused to comment.

I’m sure he is now feeling quite embattled and defensive, but surely it should be unacceptable for a powerful public official to simply refuse all comment on such a chilling example of abuse of executive office?

I hope members of Parliament use their opportunity this afternoon to ask questions on this matter, and to insist on answers.

And:

The Governor also tried to avoid most questions about his term in office (but was happy to provide a long answer to a curious question about risks around North Korea, on which he has (a) no accountability, and (b) no more knowledge than the rest of us).  Apparently there is a speech coming –  which may be interesting, but it provides no opportunity for follow-up challenge or scrutiny.   Asked if his critics have been fair, and if at times their criticism may have clouded his judgement in decisionmaking, he claimed he will cover that in his speech.  If so, that should be interesting.      Asked also about:

  • what surprised him about the economy in the last five years,
  • about his inflation record in the last five years, and
  • what his successor should worry about

he refused to provide any answers, and simply referred everyone to the forthcoming speech.

Odd that Wheeler had a media conference before giving his speech.

A lot more about the failure to answer questions and about Reserve Bank matters in: Consistent to the end…..sadly

3 Comments

  1. Blazer

     /  August 11, 2017

    a status quo governor ,aware of the implications but loyal to the Govts agenda.

    • Alan Wilkinson

       /  August 11, 2017

      A poor effort from Wheeler. Sadly Treasury leadership is no better recently. Both need quality appointments. Most likely the rot at the top started at the SSC.

  2. Blazer

     /  August 12, 2017

    not much comment.But Adern deflects a question on topic and the criticiscm flows free and fast.