5AM – 6AM
Follow the podcast on 
Finance Minister Grant Robertson was revealed to have sought advice from the Reserve Bank about a bank ‘tax’, but decided not to pursue it.
The Finance Minister explored whether the Reserve Bank could pay banks less interest on the settlement cash kept at New Zealand’s Central Bank.
Grant Robertson explained that he asked the Reserve Bank for advice about this proposal, and determined that it wasn’t a reasonable course of action.
“Given that interest rates are rising and we have to pay interest on this, could we vary that rate? I didn’t find many examples of anyone overseas doing it, and also it would severely disrupt what’s quite an important part of what the Reserve Bank does.”
LISTEN ABOVE
Take your Radio, Podcasts and Music with you
Get more of the radio, music and podcasts you love with the FREE iHeartRadio app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeartRadio is easy to use and all FREE
