Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Monetary Policy Reviewer Appointed

Professor Lars Svensson of Sweden will conduct the Government's promised review into the operation of monetary policy, Finance Minister Michael Cullen announced today.

"Professor Svensson is one of the world's leading authorities on monetary policy and monetary economics and chairs the selection committee for the Nobel Prize in Economic Sciences.

"He is Professor of International Economics at Stockholm University. He is also active as an advisor to Sveriges Riksbank [Bank of Sweden] and regularly consults for agencies in the United States, Sweden and around the world.

"His credentials for the review, which will be largely technical in nature, are impeccable," Dr Cullen said. "He has some direct familarity with New Zealand, having come to Victoria University in 1997 as a Visiting Professorial Fellow in Monetary Economics."

The contract would cost $US50,000. Professor Svensson's accommodation, travel and other expenses would be additional to that.

Professor Svensson would be available from 6 November and had undertaken to complete the review by the end of February, next year. He would split his time between New Zealand and Sweden.

"The terms of the review are strictly limited. The Government is strongly committed to maintaining the independence of the Bank and to Section Eight of the Reserve Bank Act defining the maintenance of price stability as "the primary function of the Bank."

"The purpose of the review is to investigate ways of enhancing the Bank's ability to implement the Policy Targets Agreement without unnecessary volatility to the economy, employment, interest rates and the exchange rate," Dr Cullen said.

ends

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On The US Opposition To Mortgage Interest Deductibility For Landlords


Should landlords be able to deduct the interest on the loans they take out to bankroll their property speculation? The US Senate Budget Committee and Bloomberg News don't think this is a good idea, for reasons set out below. Regardless, our coalition government has been burning through a ton of political capital by giving landlords a huge $2.9 billion tax break via interest deductibility, while still preaching the need for austerity to the disabled, and to everyone else...
More


 
 

Government: Concerns Conveyed To China Over Cyber Activity
Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government. “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity... More

ALSO:


Government: GDP Decline Reinforces Government’s Fiscal Plan

Declining GDP for the December quarter reinforces the importance of restoring fiscal discipline to public spending and driving more economic growth, Finance Minister Nicola Willis says... More

ALSO:


Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.