Doubts emerge over RBNZ mandate plans
Acting governor Spencer says dual mandate would have little impact, but expresses concern over committee structure
The Reserve Bank of New Zealand (RBNZ) is facing the prospect of a move away from the inflation targeting framework it set up 30 years ago, towards a dual mandate and a monetary policy committee, but many economists have concerns.
After months of discussion, New Zealand’s minister of finance, Grant Robertson, formally announced a review of the Reserve Bank Act on November 7, saying it was now “the right time” to ensure the monetary policy framework remained “the most efficient and effective
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