RBNZ backs decision-making committee but wants to keep it in-house

Thu, 09 Nov 2017

By Rebecca Howard Nov. 9 (BusinessDesk) - The Reserve Bank of New Zealand is in favour of formalising a committee-based decision-making process but would prefer to keep out external members, and doubts adding employment as a joint mandate will have a major impact on monetary policy. Finance Minister Grant Robertson released the terms of reference for the review of the Reserve Bank Act earlier this week, with a view to including maximising employment alongside the price stability framework and change the decision-making model for monetary...

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