RB of New Zealand criticised by finance minister

NEW ZEALAND - The Reserve Bank of New Zealand's management of monetary policy came under attack from the country's finance minister Michael Cullen today when he alleged that it was failing to interpret the bank's written policy agreement with the government. He suggested that it may need to be rewritten when the new governor is appointed later this year.

Dr Cullen said that his position had been summed up by a Macquarie Bank commentary, when asked to explain his criticism of the bank's interpr