RBNZ says salary reports 'rubbish'

The Reserve Bank of New Zealand on Thursday 5 October rejected as "rubbish" news reports claiming that Reserve Bank staff remuneration rose 15.4 percent on average per employee.

"The analysis is just plain wrong," Reserve Bank Governor Alan Bollard said.

"It is a simplistic analysis. It takes no account of the fact that, like most organisations, the Bank's staff change over a year. Staff leave and new staff replace them, often at different salaries depending on their experience and skills an