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Reuters
Reuters
Business

New Zealand government confirms review of RBNZ to include employment mandate

SYDNEY (Reuters) - New Zealand Finance Minister Grant Robertson confirmed on Tuesday that the country's new coalition government is proceeding with a review of its central bank act to include maximising employment as a goal.

Robertson said other proposed changes to the Reserve Bank of New Zealand included instituting a committee-based decision-making model to replace the governor as the single decision maker and publishing minutes of the bank's policy meetings.

Robertson told reporters there was no desire to have the New Zealand dollar included in the review. Uncertainty around Labour's plans for the RBNZ has helped to depress the New Zealand dollar, the world's 11th most-traded currency, which has fallen more than 5 percent since September's election.

(Reporting By Jane Wardell; Editing by Catherine Evans)

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