What a surprise

Wow – what a surprise – the Reserve Bank put interest rates up today.

Of course Dr Cullen beat Dr Bollard by accidentially announcing it yesterday.

Cullen is rather fortunate that the chaneg in interest rates was so widely expected. If he had let slip something which was unexpected, it would at the minimum require him to tender his resignation. These things are taken very seriously, and Roger Douglas tendered hsi resignation in the 1980s over a budget leak.

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