Inflation outcomes should not be sole criteria for judging performance, says RBNZ's McDermott
Assistant governor says need to take into account information available at time of decision
The Reserve Bank of New Zealand (RBNZ) cannot be expected to get inflation forecasts right all the time and policy decisions should be judged on whether they were supported by the information available at the time, argues a top official at the central bank.
On November 2 the RBNZ assistant governor for financial markets, John McDermott, argued it is not sufficient to look at inflation outcomes alone when assessing the conduct of monetary policy.
Evaluation of policy decisions "should also review
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