Incoming RBNZ Governor Wheeler sees scope to lean against ‘imbalances’ in new PTA

Thu, 20 Sep 2012

By Jonathan Underhill Sept. 20 (BusinessDesk) - Incoming Reserve Bank of New Zealand Governor Graeme Wheeler says amendments to the policy targets agreement gives the bank more authority “to lean against the build-up of financial imbalances” in the economy. Wheeler today signed the PTA with Finance Minister Bill English, who said he hadn’t wanted to make big changes to an accord that “has served New Zealand well.” But the tweaks to the latest incarnation include a tighter definition of inflation targeting. In additional to keeping inflatio...

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