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.

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

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

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

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

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

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