RBNZ: inflation targeting no guarantee of stability
The Reserve Bank of New Zealand's Monthly Bulletin, published Wednesday, features various articles relating to the fallout from the global financial crisis and the implications for policy, both in New Zealand and across the globe.
The first article looks at the debate on whether monetary policy should have leant more strongly against economic imbalances in the run-up to the crisis, and whether the policy toolkit for macroeconomic stabilisation needs to be expanded. The article concludes that
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