Adrian Orr: Geopolitics, New Zealand and the winds of change

Speech by Mr Adrian Orr, Governor of the Reserve Bank of New Zealand, to the "Shaping Futures National Conference" Financial Services Council, Auckland, 7 September 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Welcome all

Thanks for the opportunity to speak today on such a far reaching topic. It is a pleasure and a privilege, especially in front of such a large and important audience who impact the lives and financial security of so many New Zealanders. It is also timely to chat about financial issues given it is 'Money Week', the annual awareness week championed by the Commission for Financial Capability.

I know many people will be thinking, 'what has the Reserve Bank Governor got to say about anything long-term? Doesn't the Bank just sit and watch for outbreaks of inflation - shifting the official interest rate on a needs-be basis? Some will even comment publicly, 'How dare the Governor speak outside of their 1 to 3 percent inflation mandate!'