As we noted several months ago, the world was treated to words of economic wisdom from our Kiwi monetary authorities in 2021, as reported by Bloomberg News in the United States:
"Inflation is a very different beast today than it was in the 1970s .. The fear of the 70s, the 80s, stagflation, it is such a different world .... Central banks today are ... more confident that we have stable inflation expectations, we have a much more flexible set of pricing, we have less of that generalized inflation," said the RBNZ Governor, Adrian Orr.
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