New governor signs revised policy target agreement in New Zealand

rbnz1

The Reserve Bank of New Zealand revealed on September 20 that finance minister Bill English and incoming central bank governor Graeme Wheeler had signed a new policy targets agreement, which sets out specific targets for maintaining price stability in the country.

The new agreement will take effect on September 26, the day Wheeler begins his five-year term as chief of the central bank.

Following the signing the central bank will continue to be required to keep CPI inflation between 1% and 3% on

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