Earlier today, Finance Minister Grant Robertson got Adrian Orr reappointed as Reserve Bank Governor for another 5 years.

The National Party and ACT have not taken this update well, with National saying that the Reserve Bank should have been subjected to an independent inquiry. 

National Party leader Chris Luxon believes an independent inquiry into the Reserve Bank is necessary, as banks have been able to get away with bringing in record profits during a pandemic and current cost of living crisis.

Political editor Barry Soper explained why National and ACT have taken such a hard stance on this decision, especially ahead of an election year.

LISTEN ABOVE

• Reserve Bank Governor Adrian Orr given another five-year term
• Reserve Bank Governor promises full review of their pandemic response
• Reserve Bank Governor explains why LVR's are coming back
• Adrian Orr: Reserve Bank Governor following Official Cash Rate raise