Weekend: New NZ fin min says RBNZ reform could lower rates

Author: Eamonn Sheridan | Category: Central Banks

Grant Robertson is the new finance minister in New Zealand, speaking on TV on Sunday

He was speaking on the new government's plans to reform the RBNZ's monetary policy, which would add in a full employment target to the existing price stability goal when making rate decisions. Robertson was asked if that meant lower interest rates:
  • "potentially, it could"

"What it means is that when the Reserve Bank is making its decisions about the official cash rate, when it's thinking about monetary policy, of course it thinks about managing and controlling inflation, and that's vital
But also it thinks about other goals in the economy such as making sure that we maximize employment."


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