NZ Finance Minister rejects Svenson recommendation

NEW ZEALAND - The New Zealand finance minister, Michael Cullen, has rejected a report which claimed Don Brash, Reserve Bank governor, should have his powers curbed.

Professor Lars Svenson, a Swedish academic, was commissioned to write an independent report into the handling of monetary policy. He concluded that while Mr Brash had carried out his duties well, there were risks for the future in so much power being concentrated in just one man's hands.

Professor Svenson's recommendations are that

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