RBNZ’s Wheeler stands by inflation targeting
Inflation targeting still the “most appropriate” framework for New Zealand
Central banks are facing a growing list of challenges, but inflation targeting remains fit for purpose, Reserve Bank of New Zealand (RBNZ) governor Graeme Wheeler said today (August 23).
"Provided that sufficient flexibility is allowed to accommodate the frequent and often severe impact of external shocks, the most important contribution monetary policy can make to promoting efficiency and the long-run growth of incomes, output and employment is the pursuit of price stability," Wheeler said
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