Inflation targeting the best available option: RBNZ’s Bollard

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While inflation targeting has helped maintain price stability, it has not guaranteed balanced growth or macroeconomic stability, Alan Bollard, the governor of the Reserve Bank of New Zealand, said in a speech at the end of January.

Neutral fiscal policies, the monetary setting in major global economies and a stable financial system also mattered, he noted, adding that it was in the interplay between the financial system and macroeconomic stability that the most learning would have to be done

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