Will's Word: Is Reserve Bank Governor's departure a well-timed exit or gentle nudge?

After seven years at the helm of the Reserve Bank, the Governor has decided now - at what Finance Minister Nicola Willis calls an "appropriate juncture" - to call it quits.

And what an interesting juncture it is. Inflation’s finally crawling back, interest rates have stopped making mortgage holders cry, and the cost-of-living crisis is... well, still a crisis.

If you were expecting the government to spill the tea on why Orr is leaving, the Finance Minister has already said she won't "characterise the reasons." But you only have to do a quick Google search to find Willis was never really a fan of Adrian Orr.

The silence was so loud that ACT’s David Seymour stepped in with his own little farewell card: "Thanks for the inflation!"

And yet, Seymour's got a point. Orr presided over a wild ride, from the pandemic money-printing frenzy to the economic whiplash of trying to stuff inflation back into Pandora's box.

Orr, of Cook Islands heritage, was arguably one of the most successful Kūkis to ever hold a leadership role in New Zealand.

He made history, took on the toughest economic period in modern times so love him or loathe him, he certainly has left his mark.

So, farewell Adrian Orr. Thanks for the memories. Thanks for the inflation. And thanks for leaving us all wondering did you jump, or were you gently pushed?

We may never know but one thing’s for sure, the next Reserve Bank Governor is in for a hell of a ride.

That’s Will’s Word.

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