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Story: Reserve Bank

Wages and inflation

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Wages and inflation

This cartoon, published in 2000, playfully highlights Reserve Bank Governor Don Brash's inflation-control responsibilities. He is trying to iron a wage shirt still on the back of a worker using inflation control. Higher wages are an inflationary pressure and Brash wanted to keep wage growth moderated.

Using this item

Alexander Turnbull Library

Reference: DCDL-0009203

by Malcolm Walker

Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.

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How to cite this page

John Singleton, Reserve Bank – Central bank independence, Te Ara – the Encyclopedia of New Zealand, https://teara.govt.nz/en/cartoon/33462/wages-and-inflation (accessed 4 June 2026).

Story by John Singleton, published 20 March 2012.