Treasury misses out on say in RBNZ’s new toolkit, documents show

Mon, 10 Jun 2013

By Paul McBeth June 10 (BusinessDesk) - The Treasury missed out on getting a say on how the Reserve Bank will roll out its new tools to take the steam out of potential asset bubbles, after pushing for at least a passive role, according to documents published on the department’s website. The government’s financial adviser wanted an ongoing role in the use of the macro-prudential tools because the Crown could be at risk of any “large externalities arising from failure to mitigate system risk” and that any future tools could involve taxes or o...

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