Calls for New Zealand to drop inflation target

The New Zealand stock exchange operator, New Zealand Exchange (NZX), has called for on the country's central bank to abandon its strict inflation target. Michael Cullen, the finance minister, called the suggestion "very interesting and very well considered."

The Reserve Bank has raised interest rates to 8.25% as inflation has approached the upper limit of the central bank's 1% to 3% target. The monetary tightening has pushed the New Zealand dollar to 22-year highs, leading the central bank to

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