New Zealand's central bank aims to bring inflation back to its 1-3% target range with restrictive monetary policy.
New Zealand's central bank, the Reserve Bank of NZ (RBNZ), aims to bring inflation back to its 1-3% target range, with inflation currently above pre-pandemic levels. Chief Economist Paul Conway stated that inflation is likely to remain "sticky" for another year or two, as the economy faces high inflation and slow growth. The RBNZ plans to achieve its 2% inflation target through restrictive monetary policy, despite potential short-term economic pain.
June 18, 2024
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