Doubts emerge over RBNZ mandate plans

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New Zealand’s government may hand the RBNZ (pictured) a dual mandate with committee-based decision-making

The Reserve Bank of New Zealand (RBNZ) is facing the prospect of a move away from the inflation targeting framework it set up 30 years ago, towards a dual mandate and a monetary policy committee, but many economists have concerns.

After months of discussion, New Zealand’s minister of finance, Grant Robertson, formally announced a review of the Reserve Bank Act on November 7, saying it was now “the right time” to ensure the monetary policy framework remained “the most efficient and effective mod

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