New RBNZ mandate is evolution not revolution, says McDermott
Inflation-targeting framework has been tweaked several times already – assistant governor
The latest changes to the Reserve Bank of New Zealand’s mandate are the continuation of a gradual process of adjustment, assistant governor John McDermott said in a speech today (April 12).
“I believe this next step is indeed an evolution, which builds on the flexible approach we have been taking for some time, rather than a revolution,” he said in remarks that were delivered on his behalf by RBNZ adviser Rebecca Williams.
The RBNZ cemented the deal on its new mandate in March. It will now
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