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NZ's Finance Minister Robertson: no desire to have NZD included in the RBNZ review

NZ's Finance Minister Robertson has been crossing the wires.

Key statements:

  • RBNZ's spencer re-sign policy target pact
  • announces 2-phase review of RBNZ mandate
  • phase-1 to focus on employment, committee
  • phase-1 to review whether board role needs to change
  • says govt committed to price stability framework
  • confirms RBNZ review to include maximising employment as goal
  •  says a bill on the policy elements of the RBNZ review will be introduced as soon as possible in 2018
  • aims to publish minutes of RBNZ policy meetings
  • no desire to have nz$ included in the RBNZ review
  • will not have a specific number for the RBNZ employment target
  • says to retain the 1-3 pct inflation target for RBNZ
  • the review should not have a dramatic impact on RBNZ policy in near term
  • says in some circumstances, RBNZ changes could lead to lower rates than otherwise

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