Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Renewed Policy Targets Agreement signed

Date 7 November 2017

Renewed Policy Targets Agreement signed

Finance Minister Grant Robertson and Reserve Bank Governor Grant Spencer today signed an unchanged Policy Targets Agreement (PTA), which sets out specific targets for maintaining price stability.

The Minister also released today the Terms of Reference for a Review of the Reserve Bank Act.

The Policy Targets Agreement, effective immediately, is the same as that signed by Mr Spencer and the previous Finance Minister Steven Joyce, which has been in effect since Mr Spencer’s six-month term as Governor began on 27 September.

The PTA requires the Reserve Bank to keep future CPI inflation outcomes between 1 per cent and 3 per cent on average over the medium term, with a focus on keeping future average inflation near the 2 percent target midpoint.

“The renewed PTA will continue to provide continuity, consistency and stability for the monetary policy target during the period of review of the monetary policy provisions of the Reserve Bank Act, and ahead of the appointment of a new Governor,” Mr Spencer said

Mr Spencer said that the Bank welcomes the Review of the Reserve Bank Act and will work with the Treasury on the Review.

“The Reserve Bank has been subject to several reviews in the past. The Terms of Reference state that the operational independence of the Reserve Bank remains paramount and will be protected,” he said.

More information

Read the renewed Policy Targets Agreement

Read the Terms of Reference for the Review of the Reserve Bank Act


ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Rapid Antigen Testing


National Party leader Christopher Luxon is being allowed to get away with murder. Luxon is not being challenged over his repeated assertions that the rest of the world has enjoyed ready access to rapid antigen tests (aka RATS) for a year, so why aren’t we? In fact, the reality across the Tasman for the past month has seen a colossal shambles unfold over (a) the availability and (b) the affordability of these tests. RATS have become a case of panic buying on steroids. Amid reports of price gouging, stock-piling, socially inequitable access and empty shelves...
More>>



 
 


Government: Announces Three Phase Public Health Response To Omicron
The Government has announced a three phase Omicron plan that aims to slow down and limit the spread of an outbreak, Associate Minister of Health, Dr Ayesha Verrall announced today. “Through the course of managing Omicron, we will be taking a phased approach. As case numbers grow both testing and isolation approaches will change in response... More>>


Save The Children: Thousands Join Call To Retain New Zealand’s Children’s Commissioner

More than 6000 Kiwis have joined Save the Children New Zealand’s call to retain the vital role of Children’s Commissioner, as the Government considers a new bill proposing major changes to the office, including the removal of a named Children’s Commissioner... More>>


Science Media Centre: Omicron Outbreak Would Move The Country To Red - Expert Reaction

The Prime Minister has announced if Omicron cases spread into the community, the country will move to the traffic light system's Red setting within 48 hours. Jacinda Ardern also mentioned there will be changes to the country's testing regime, with more use of Rapid Antigen Tests... More>>

Transparency International: New Zealand Retains Top Ranking In Annual Corruption Perceptions Index
New Zealand is once again ranked least corrupt in the world by Transparency International’s annual Corruption Perceptions Index. This year New Zealand’s score of 88 out of 100 is unchanged resulting in it being first equal with Denmark and Finland... More>>


TradeMe: Property Prices Increase By A Record 25% In One Year
In December, the national average asking price jumped by a quarter year on year, to reach a new high of $956,150, according to the latest Trade Me Property Price Index. Trade Me Property Sales Director Gavin Lloyd said last month’s national average asking price increase was the largest on record... More>>


Statistics: Departures Lift Border Crossing Numbers

The number of people crossing New Zealand’s border went up in November 2021, mostly due to an increase in departures, Stats NZ said today. There were 28,700 border crossings in November 2021, made up of 12,300 arrivals and 16,400 departures... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels