Reserve Bank of New Zealand Press Release

PRESS RELEASE - New Policy Targets Agreement, Joint Press Statement by Finance Minister Michael Cullen and incoming Reserve Bank Governor Alan Bollard, 17 September 2002.

The Finance Minister and the incoming Governor of the Reserve Bank today signed a new Policy Targets Agreement (PTA), which sets out specific targets for achieving and maintaining price stability.

The most significant change is that the Reserve Bank is required to take a forward looking, medium-term approach to achieving price