McDermott says RBNZ limited in its ability to influence underlying employment trends

Wed, 11 Apr 2018

By Jonathan Underhill April 12 (BusinessDesk) - The Reserve Bank of New Zealand may now need to give regard to employment when setting monetary policy but in reality its ability to influence trends in the jobs market is limited, says Reserve Bank assistant governor John McDermott Last month Finance Minister Grant Robertson and new governor Adrian Orr signed a new policy targets agreement (PTA) that adds the goal of "supporting maximum levels of sustainable employment within the economy" to the existing goal of price stability, and the gov...

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