NZ central bank renews policy deal with govt, inflation target stays 1-3 pct

By Kitco News / June 06, 2017 / www.kitco.com / Article Link

WELLINGTON, June 7 (Reuters) - The Reserve Bank of New Zealand on Wednesday said it had renewed its policy target agreement with the finance minister for the six-month period after Governor Graeme Wheeler steps down in September.

The agreement, unchanged from the last one, signed in 2012, left the central bank's target for consumer price inflation between 1 and 3 percent on average over the medium term.

The agreement will apply from Sept. 27 when Deputy Governor Grant Spencer becomes the acting governor until March 26, as the bank searches for a new permanent chief.


(Reporting by Charlotte Greenfield; Editing by Robin Pomeroy)

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