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New Zealand Finance Min Backs RBNZ After Criticism of Its Pandemic Response
Criticism of the New Zealand central bank's stimulus response to the Covid-19 pandemic is "hindsight economics," Finance Minister Grant Robertson said Tuesday, continuing to back the RBNZ's leadership. Most countries are grappling with decades-high inflation after record-low interest rates and increased government spending during the pandemic caused a surge in demand. Global shipping disruptions and Russia's invasion of Ukraine also have contributed to rapid price increases. Mr. Robertson said he continues to have confidence in the RBNZ and its governor, Adrian Orr. "I think there is a tremendous amount of ... (full story)