OCR decisions should be made by board not governor, NZMEA says

Fri, 20 Jul 2012

By Hannah Lynch July 20 (BusinessDesk) – The Reserve Bank of New Zealand’s monetary policy decisions should be made by its board rather than the governor alone given the calibre of directors, says New Zealand's Manufactures and Exporters Association. The central bank this week named Rod Carr, vice chancellor of the University of Canterbury, to its board. “The Governor system means that one person is left to make a decision which impacts a diverse group of sectors," John Walley, chief executive of the NZMEA said in a statement. "It would mak...

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