OnPoint: The Master Plan
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got rid of Dr Brash - whose tenure in control of the RB was not marked by rapid growth
I think you mean re-appointed Dr Brash, who later resigned.
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True, it took a while! Brash wasn't keen on the change of target, but that wasn't exactly the full story. He did resign. Maybe 'got rid of' is wrong, but hm, I don't think it's completely wrong!
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But easing up from 0-2 (and getting rid of Brash) came at a moment when commodity prices took off- and there was plenty of (relatively) cheap credit to be had.
Coupla things:
0-2% got eased to 0-3% in early 1997. One of Winston Peters' gifts to a grateful nation. Cullen moved it to 1-3% in Sept 2002 - well after the start of the commodity boom you mentioned.
One big factor in the commodity boom early in the decade had nothing to do with anything any party did: the currency hovered in the low $US40c for quite some time.
If you have any evidence Cullen 'got rid of' Brash, lets have it please.
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