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 That $4 Billion Hit To National’s Economic Cred

National released its economic and tax policy last Friday. Weirdly, the plan was announced right at the end of the news week, when whatever impact it managed to generate would be likely to dissipate over the weekend. Well…. that now seems all for the best. The plan is now known to have a $4 billion hole in it. Apparently, National used outdated figures for the amount it stood to save from NOT paying into the Super Fund. Amusingly, the $4 billion mistake was almost exactly the same size as the $4.7 billion that National still promises to give away in tax cuts... More>>

 

Government: More Border Exceptions For Critical Roles

The Government has established class exceptions for border entry for a limited number of veterinarians, deep sea fishing crew, as well as agricultural and horticultural machinery operators. “Tight border restrictions remain the backbone of the Government’s ... More>>

ALSO:

PM: Auckland At Bolstered Level 2, Rest Of Country Provisionally At Level 1

Pandemic alert levels for the whole country have been reviewed by Cabinet and Prime Minister Jacinda Ardern is announcing whether restrictions will be eased. More>>

ALSO:

Labour: Supporting Workers And Valuing Their Contribution

Making sure working New Zealanders are safe, healthy and that their contribution to the economy is valued is at the heart of Labour’s Workplace Relations Policy.
“This is Labour demonstrating its commitment to helping working New Zealanders by increasing sick leave, raising wages, protecting them while they are at work, growing jobs and investing in the economy,”... More>>

ALSO:

PREFU: Economy Doing Better Than Forecast

The Pre-election Economic and Fiscal Update released today shows that the near-term economic recovery has been stronger than the Treasury and many economists predicted at the May Budget, as the economy bounced back strongly out of lockdown... More>>

ALSO:


Electoral Commission: Candidate And Party Lists Released

17 registered political parties and 677 candidates will be contesting the 2020 General Election Nominations have now closed and the Electoral Commission has released the electorate and party list candidates for 2020 online at vote.nz . Advance voting ... More>>

National: Plan To Restore NZ’s Prosperity

National’s Economic and Fiscal Plan carefully balances the need to invest in infrastructure and core public services while also reducing tax pressure on Kiwi families and businesses. National Leader Judith Collins and Finance spokesperson Paul Goldsmith unveiled National’s ... More>>

ALSO:

NZ First: Party List

New Zealand First has a proven twenty-seven-year history of bringing balance and common sense to our government. Amid the continued setbacks of COVID-19 restrictions, New Zealand First has once again sustained its profile by selecting a strong team ... More>>

Election: Arriving Travellers In Isolation To Be Able To Vote By Telephone

Up to 5,000 people in managed isolation or quarantine will be able to vote by telephone in the general election and referendums after an amendment to electoral regulations last week. Chief Electoral Officer Alicia Wright says the Electoral Commission sought ... More>>

National: Investing In Our Children’s Future

A National Government will prioritise lifting achievement for all New Zealand children, no matter their background or ability, National Party Leader Judith Collins and National’s Education spokesperson Nicola Willis say. “Parents just want what’s best for ... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels