Joyce, Spencer sign unchanged policy targets to cover transition after Wheeler departs

Tue, 06 Jun 2017

By Jonathan Underhill June 7 (BusinessDesk) - Finance Minister Steven Joyce and deputy Reserve Bank governor Grant Spencer have signed an unchanged policy targets agreement to cover the six-month transition after governor Graeme Wheeler departs on Sept. 26. Spencer has been named acting governor pending a permanent appointment. The interim PTA extends the central bank's requirement to keep annual inflation between 1 percent and 3 percent on average over the medium term, targeting the mid-point of 2 percent. Wheeler failed to meet that tar...

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