New Zealand finance minister defends dual mandate

Robertson rejects calls for changed mandate and new regulator ahead of general election

Reserve Bank of Australia
The Reserve Bank of New Zealand

New Zealand’s finance minister has told Central Banking his Labour party will not abandon the central bank’s dual mandate if it wins re-election next month.

Grant Robertson, finance minister since 2017, also rejected calls by a think-tank to create a separate financial regulator.

The current government and the Reserve Bank of New Zealand agreed to add an employment mandate to the central bank’s duties in 2019. The dual mandate requires the RBNZ to ensure price stability and “maximum

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