Since the financial crisis inflation has been weaker than forecast, and the RBNZ has continually reviewed its forecast performance over this period with reasonable results compared to a number of external and model-based benchmarks. The Reserve Bank of New Zealand (RBNZ) regularly reviews its decision making process concerning monetary policy in order to better handle economic uncertainty and improve the quality of policy decisions, according to the Bank's Assistant Governor John McDermott. While speaking to the Manawatu Chamber of Commerce in Palmerston North, Dr McDermott explained the RBNZ’s process for ... (full story)