RBNZ directors - Breach of inflation target was OK

NEW ZEALAND - The Reserve Bank of New Zealand's breach of its official inflation target through much of the year ending 30 June, isn't a matter for concern, the central bank's non-executive directors said in its annual report issued Thursday 4 October.

Click the link on the right to read the Reserve Bank of New Zealand Annual Report 2001.

A Policy Targets Agreement signed by Finance Minister Michael Cullen, and Central Bank Governor Don Brash requires the central bank to implement monetary policy

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