Treasury backs inflation focus for RBNZ, but not law change

Treasury secretary Caralee McLiesh. (Image: BusinessDesk)

Tue, 12 Dec 2023

The Treasury is in favour of sharpening the Reserve Bank’s monetary policy focus to keeping inflation under control, but isn’t too keen on the government’s planned legislation to do so. In a truncated regulatory impact statement on Nov 30, Treasury officials said they were in favour of a monetary policy approach that clearly prioritises price stability, but preferred the use of a remit, even though that would fall short of the government’s commitment to ditch the bank's dual mandate of inflation control and maxi...

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