New Zealand government removes full employment goal for Reserve Bank of New Zealand

New Zealand’s new government has officially abandoned full employment as a goal for the Reserve Bank of New Zealand.

This was a policy position the new government had going into the election and since winning the new policy has been much publicized, so it’s not fresh news,

The legislation has now been passed returning the Reserve Bank of New Zealand’s mandate to a
sole focus on inflation, removing the need to take employment
into account when making monetary policy decisions.

The RBNZ took on the employment mandate in 2018.

The RBNZ Monetary Policy
Committee next meets in February.


This article was written by Eamonn Sheridan at Source