Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate; government pressing ahead with committee reforms
The incoming governor of the Reserve Bank of New Zealand has formally agreed to a dual mandate for the central bank, retaining the price stability goal, while adding a ‘maximum employment’ objective.
Adrian Orr today (March 26) signed the new policy targets agreement with finance minister Grant Robertson, the first concrete expression of the government’s plans to reform the RBNZ’s mandate and governance, which were unveiled in 2017.
“The policy targets agreement appropriately retains the
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