financial crisis


PHOTO: ROSS GIBLIN/STUFF Finance Minister Grant Robertson should get ready for the next crisis.

OPINION: On Wednesday the governor of the Reserve Bank will send out a press release informing the world whether or not the bank will cut, raise or hold the official cash rate.

The change is immediate – the dollar often wiggles in response as the market rushes to price the rate cut in.

By the time journalists file into the Reserve Bank’s museum for the quarterly Monetary Policy Statement press conference, we could be looking at a fairly different economic picture.

Things happen rapidly not just because investors are making quick bets but because the bank’s changes are real and immediate.