I went hunting for the recent comment referenced from John McDermott and Arthur Grimes and found this: https://www.nzinitiative.org.nz/reports-and-media/opinion/transcript-oliver-hartwich-and-john-mcdermott-discuss-winding-back-the-overhang-of-monetary-stimulus/ Interesting comment at 14:32 about the Reserve Bank having lost real money.
I went hunting for the recent comment referenced from John McDermott and Arthur Grimes and found this: https://www.nzinitiative.org.nz/reports-and-media/opinion/transcript-oliver-hartwich-and-john-mcdermott-discuss-winding-back-the-overhang-of-monetary-stimulus/ Interesting comment at 14:32 about the Reserve Bank having lost real money.