RBNZ adopts new dual policy target

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New Zealand’s government signed a document today (February 14) changing the central bank’s mandate to add a maximum employment objective to the current inflation target.

The country’s finance minister and central bank governor also signed another document which means monetary policy decisions will be taken by a committee, rather than being the governor’s sole responsibility. 

The Reserve Bank of New Zealand was the first central bank to adopt an inflation-targeting regime. It was established

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