The extension will cost up to $430 million, depending on uptake.
Interest rates are likely to rise, but not as much as they normally would.
Novel, draconian, unfairly retrospective and out of left field are just a few of the criticisms of the proposed new oil field decommissioning law.
Geoff Bascand has been a deputy governor since May 2013 and is a member of the monetary policy committee.
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