It’s official: MediaWorks journalists no longer welcome at Reserve Bank

via RNZ

via RNZ

…but they are so proud that they managed to get rid of Weldon.  Aren’t they doing well?

MediaWorks staff have been banned from Reserve Bank media conferences after one of its journalists leaked March’s cut to the Official Cash Rate in advance.

The central bank said the exclusion would remain in place until further notice.

A probe found a Newshub reporter gave the March 10 decision of a 25 basis point cut in the rate to people in the newsroom, and it was then passed on to an economics blogger before the embargo had lifted.

The blogger, Michael Reddell, said he got an email about 55 minutes before it was officially released and when the cut was confirmed he informed the bank.

Investigations by both MediaWorks and Deloittes confirmed the email trail.

The bank axed its media and analysts’ lock-ups ahead of interest rate and policy announcements in the wake of the leak.

“The leak is a serious and disappointing breach of many years of trust,” said Governor Graeme Wheeler.

Professionals.  All of them.


– NZN via MSN News


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  • KGB

    Weldon should have released that journalists name. Firstly, for the sake of those innocent, and secondly…. well revenge:)

  • Lux

    Ohh well they always can interview their keyboards and make things-up-as-they-go-along .. while drinking Moet ..

    Wait .. they already do that..

    • Dan

      Yes but the moet has a cork and with thatclrk they can keep plugging up the holes in their boat

  • cows4me

    Hahaha, well that worked out well didn’t it?.

  • waldopepper

    im glad they have targeted the guilty organisation instead of just a blanket ban of everyone. now if we can just get the politicians to do the same.

  • HunuaRanger

    I’m surprised they didn’t do a story on the “loophole” of how it’s possible to use inside information(the dropping rate) to trade in the Forex markets to make huge profits and then try to smear John Key in some way.

  • Curly1952

    The sad part is this will be like water off a ducks back to the members of the least trusted profession. They will continue to pontificate about things they learn’t from Twitter as if it were true.

    • Dumrse

      Journalism, a profession? It’s going to stretch to car salesmen next. They deserve what the get for thinking and trying to be a cut above.

      • Oh Please

        Profession in the same sense as a prostitute is.

  • papagaya

    They’re not welcome at the Reserve Bank, and they’re definitely not welcome in my living room.

  • WBC

    Fantastic. And a win for open and free media. If it is not held accountable for blatant misuse of power then it can no longer be considered part of the fourth estate.

    It is a shame that criminal convictions were not handed down to confessed criminals like HDPA but maybe with more leaders like Wheeler this may change in future.

    Lastly, when are the going to be held account for deliberately displaying naked genitalia on their tabloid program and then lying about it claiming it was an accident? It is not the nudity that offends me, it is that they believe they can get away with pretending it was an accident. A total lack of integrity.

  • Brian Dingwall

    Spotted this morning on a US blog I read. JFK giving the media a none-too-subtle lesson on their responsibilities, and freedoms. Brilliant IMO