New Zealand Finance minister Bill English in the NZ press

  • Says the Government sees no reason to rewrite its agreement with the Reserve Bank ... Despite its failure to lift inflation back to its target range under current settings
"We are always open to a discussion with the governor about what works best. In the past there have been those discussions and inevitably they get around to the area of either stimulus for the economy or otherwise, which is ultimately tax. I think the way we look at it is the government controls the spending and that side of the economy and the Reserve Bank governor is responsible for monetary policy. I don't think there will be any move on the government side on the tax side."

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On Tuesday Prime Minister John Key and English both stressed the economy was not suffering from the low inflation rate