RBNZ's McDermott: employment mandate will help inflation targeting flexibility

RBNZ's McDermott is speaking on inflation targeting (and employment mandate) titled'Evolution in inflation targeting'.

With the recent expansion of the RBNZ's mandate and the new Policy Target Agreement with the added employment mandate, the Reserve Bank Assistant Governor and Head of Economics John McDermott said that New Zealand’s inflation targeting framework has evolved significantly over the past 30 years and that the inclusion of an employment mandate will help inflation targeting flexibility.

Key notes:

• The bank has always had regard for the labour market.
• Bank will be publishing non-attributes records of policy meetings.
• Will reflect differences in views.