RBNZ commitment to inflation target crucial for believable guidance, Bascand says

Thu, 05 Dec 2013

By Paul McBeth Dec. 6 (BusinessDesk) - The Reserve Bank’s inflation target is crucial if it wants the private sector to believe its projected interest rate path, and means the monetary authority needs consistent communications, deputy governor Geoff Bascand says. The central bank is mandated to provide a type of forward guidance in its policy statements, which is typically the future track of the 90-day bank bill rate, which creates greater certainty for households and firms, Bascand said in a speech in Auckland. Future policy decisions a...

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