New Zealand opposition leader says he would end dual mandate
National Party chief says he will drop employment target and tell RBNZ to concentrate on inflation
The leader of New Zealand’s main opposition party has said he would remove the central bank’s dual mandate so that it concentrated on inflation.
The Labour government gave the Reserve Bank of New Zealand a dual mandate in 2018, to maintain price stability and ensure maximum possible employment. In 2021, it also said the RBNZ’s monetary policy committee must consider the effect of its decisions on sustainable house prices, without setting specific targets.
But Christopher Luxon, leader of the
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