New Zealand finmin: RBNZ monetary policy committee remit and charter renewed

WELLINGTON: The Reserve Bank of New Zealand’s monetary policy committee remit and charter has been renewed with only minor changes, New Zealand’s minister of finance said on Tuesday.

“I have made only minimal changes to the remit as the current monetary policy framework as I believe it remains fit for purpose,” Grant Robertson said in a statement.

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The bank will now be required to “achieve and maintain”, rather than “keep”, future annual inflation between 1 and 3% over the medium term, Robertson added.