New Zealand’s government returns central bank to single mandate
New coalition government says Labour’s shift to a dual mandate in 2018 was “a mistake”
New Zealand has passed legislation returning the central bank’s mandate to a single focus on price stability.
Parliament today (December 13) passed a law amending the Reserve Bank of New Zealand’s monetary policy committee remit and charter. The new centre-right coalition government, led by the National Party, put forward the bill, as part of its commitment to address high inflation in the country.
Separately, the RBNZ announced on December 11 that the four largest banks in New Zealand have now
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