Podcasts Other The Mike Hosking Breakfast Jim Reardon: Former Westpac Treasurer on the Reserve Bank's plan to buy foreign currency assets to protect the economy from a shock

Jim Reardon: Former Westpac Treasurer on the Reserve Bank's plan to buy foreign currency assets to protect the economy from a shock

Published: Nov. 16, 2023, 6:50 p.m.

Scepticism about the Reserve Bank's plan to add muscle so it can intervene in the currency market. \xa0

It's buying and borrowing more foreign currency assets to protect the economy from a big shock. \xa0

Former Westpac Treasurer Jim Reardon says it's an idea that sounds good in theory but would have very little value. \xa0

He told Mike Hosking that he's not sure the bank has enough resources to affect the market enough.\xa0 \xa0

Reardon says history has shown the market will correct itself.\xa0

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