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New Zealand Coalition Government Ponders Deeper Reforms to RBNZ
New Zealand’s new government will seek advice on whether to undertake deeper reforms at the central bank in addition to returning it to a single mandate focused only on inflation. The government will amend the Reserve Bank of New Zealand Act to remove the existing dual mandate which includes employment, according to coalition agreements published Friday in Wellington. While that move was expected, it also said it will take advice on giving the RBNZ time targets for monetary policy, removing the Treasury Dept. observer from the Monetary Policy Committee and returning to a single decision maker model. Currently, the ... (full story)