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Cullen's Outburst Unsettling

Media Statement
Hon Bill English
Wednesday 19 January 2000


CULLEN'S OUTBURST UNSETTLING

"The Finance Minister's outburst against the Reserve Bank and Treasury has rightly raised eyebrows amongst the financial community and financial markets," Opposition Finance spokesperson Bill English said today.

"Dr Cullen's huffing and puffing publicly is actually making the whole thing worse by unsettling the financial marketplace and sending confusing messages.

"Dr Cullen can't seem to contain himself - his move today to publicly tick off the independent Reserve Bank is highly unusual.

"While the Reserve Bank's step was a surprise to many people particularly in light of low inflation, it is clearly factoring in the impact of the big spending plans of the Labour-Alliance Government.

"The best thing Dr Cullen can do to deliver low inflation is to have less to say and ensure the economy is managed well.

"We also now know the economy is in better shape than Dr Cullen has continually claimed because we've got low inflation and a growing economy."


ENDS

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