RBNZ should focus on fewer labour market indicators – paper

Researcher proposes using ‘high-quality’ indicators to monitor inflationary pressure

Reserve Bank of New Zealand, Wellington
Photo: Rachael King

The Reserve Bank of New Zealand (RBNZ) should focus on using fewer indicators to monitor inflationary pressure from the labour market, a research paper says.

Currently, the RBNZ looks at a range of 44 labour market indicators, as part of its considerations for setting monetary policy. It also considers how the indicators compare with their strongest or weakest levels since 2000.

Christopher Ball, senior adviser to the RBNZ and the author of the paper, says many of the 44 indicators have performed

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