RBNZ independence at risk from policy committee appointment process - ASB

Wed, 19 Sep 2018

By Gavin Evans Sept. 20 (BusinessDesk) - Allowing the minister of finance to appoint all the members of the Reserve Bank’s monetary policy committee risks weakening perceptions of the bank’s operational independence, ASB chief economist Nick Tuffley says. Confidence in the central bank’s independence is important and would be reinforced by leaving internal appointments to the new committee in the hands of the bank, Tuffley told MPs yesterday. Limiting those internal appointments to the committee to only two terms also appears unnecessaril...

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