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Speaker 1: Brian Bred back to the juicy details around Adriannall's resignation.

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Speaker 1: Jane to Pshriny is The Herald's Wellington business editor. She's

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Speaker 1: been looking into this. Janee, good evening, Hi Ryan, it's

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Speaker 1: so best Oia. You've got back in a week while

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Speaker 1: what's what's the gist.

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Speaker 2: Was a pretty juicy day for me. We got some

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Speaker 2: documents back from Nikola Willis's office. They showed a couple

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Speaker 2: of things. Firstly, they showed that Adrian the Reserve Bank

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Speaker 2: had planned to announce Adrianall's resignation on March ten. That

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Speaker 2: would have been after the Reserve Bank hosted a massive

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Speaker 2: conference with international economists from around the world, but that

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Speaker 2: announcement actually ended up being made on March five, the

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Speaker 2: day before the conference. So I remember on March five,

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Speaker 2: it was all a scramble. The Reserve Bank ended up

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Speaker 2: calling a press conference late in the day and this

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Speaker 2: was all happening as economists were arriving in New Zealand

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Speaker 2: from around the world ready for this big conference the

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Speaker 2: following day to mark thirty five years of inflation targeting.

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Speaker 2: So what we don't know is why was that announcement

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Speaker 2: brought forward? And you know what prompted that, because it's

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Speaker 2: pretty embarrassing for New Zealand to host a big conference

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Speaker 2: and for the big news of the day to be

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Speaker 2: the governor of the Reserve Bank has just resigned. So

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Speaker 2: that was one little nugget. The other one was that

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Speaker 2: the documents show that Nicola Willis's press secretary prepped her

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Speaker 2: and said, look, here's a list of questions that journalists

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Speaker 2: might ask you about Aw's resignation. A couple of the

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Speaker 2: questions the Press sect said might be asked were around

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Speaker 2: meetings that Nicola Willis had with ad Renal. Specifically, a

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Speaker 2: question he said media might ask is, did or raise

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Speaker 2: his voice with you? And were their disagreements with you?

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Speaker 2: So we don't know if a meeting that happened before

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Speaker 2: he resigned, you know how feisty it was, whether people

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Speaker 2: raise their voices or not. But the fact that the

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Speaker 2: Press Sects has prepared Nichola Willis for questions around that,

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Speaker 2: you know, it tells us somewhat juicy and interesting story.

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Speaker 1: Yeah, it's it is interesting because it's not like and

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Speaker 1: we can't say whether Adrian all raised his voice in

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Speaker 1: that meaning because we were there and clearly Nichola Willis

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Speaker 1: is not telling us, but you would ask the question,

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Speaker 1: do the pre sects prepare for every meeting that the

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Speaker 1: minister has? Do they say, Hey, someone might ask you

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Speaker 1: where the voices were raised? You know what I mean?

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Speaker 1: You can kind of make your own inference. I suppose,

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Speaker 1: can't you.

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Speaker 2: Well, that's the thing, and you know we did ask

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Speaker 2: Nichola Willis at the time. I asked, actually was Adrian

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Speaker 2: or sick? And I asked was the misconduct involved? So

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Speaker 2: that these were fair questions that we did ask. My

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Speaker 2: biggest sort of my guess as to to why he

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Speaker 2: resigned would and this is just a guess, would be

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Speaker 2: that he clashed with Nichola Willis over the amount of

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Speaker 2: government funding the Reserve Bank would receive. And also they

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Speaker 2: clashed over the amount of capital that the Reserve Bank

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Speaker 2: requires banks to hold to make them strong. So those

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Speaker 2: are two things. It's probably about that. But you know,

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Speaker 2: I feel like details will just keep trickling out over.

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Speaker 1: Time, slowly but surely, a couple of big issues, couple

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Speaker 1: of big personalities, and maybe some raised voices. Thank you

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Speaker 1: for that, Genati of training insit heroes running in business

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Speaker 1: ESA For more from Heather Duplessy Allen Drive. Listen live

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