Central banks roasted for fuelling risky house price boom

Central banks failed to control inflation and caused a risky house price boom because of their misplaced confidence and political distractions such as climate change, former Reserve Bank of New Zealand governor Graeme Wheeler says.

In a scathing assessment of his former peers, Mr Wheeler said extremely stimulatory monetary policy in the COVID-19 pandemic contributed materially to the inflation surge that persists today around much of the world.