Dr Don Brash's resignation as Governor of the Reserve Bank
is not altogether unexpected given his increasing
frustration with New Zealand's economic performance, the
chief executive of the Employers & Manufacturers Association
(Northern), Alasdair Thompson said today.
"Dr Brash
has been an open and highly accessible Reserve Bank
Governor," Mr Thompson said.
"He brought a keen
discipline to controlling inflation and in that respect his
approach has been very successful.
"Dr Brash has
stood firmly by his view that the only contribution the
Reserve Bank can make to economic growth is to control
inflation.
"But lately he has expressed frustration
that New Zealand's policies are not lifting our growth rate
sufficiently.
"The announcement today shows he is
prepared to back his principles by taking his experience and
knowledge into Parliament to promote policies that would
achieve higher rates of growth.
"Business will
respect the decision. Dr Brash will no doubt make an
excellent contribution to Parliament and to the development
of public policy." Ends
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