RBNZ announces members of new monetary policy committee

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The Reserve Bank of New Zealand named the seven initial members of its new monetary policy committee, which was created by a December 2018 amendment to the Reserve Bank Act. 

The committee will be made up of four internal appointees and three outside experts, and will take over monetary policy decision-making on May 8. Currently the power to change rates falls solely on the reserve bank’s governor, Adrian Orr.

In his March 27 monetary policy statement, governor Orr decided to leave rates

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