English content to wait until 2017 for review of PTA with Reserve Bank

Fri, 04 Mar 2016

By Tina Morrison March 4 (BusinessDesk) - Finance Minister Bill English says he's prepared to wait for the scheduled review of the policy targets agreement with the Reserve Bank next year to consider whether it's still appropriate in a global economy where inflationary pressures have dissipated. The PTA requires monetary policy to keep inflation between 1-to-3 percent on average over the medium term, with a focus on keeping future average inflation near the 2 percent midpoint. Inflation has undershot the target in each of the past five qu...

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