Philip Turner urges RBNZ to focus analysis on ‘new normal’
Former BIS official gives positive review of RBNZ’s monetary policymaking process
Philip Turner has given a broadly positive review of the Reserve Bank of New Zealand’s (RBNZ) policymaking process, but recommends the central bank devote more resources to understanding the “new normal” for the economy.
The former deputy head of the Bank for International Settlements’ monetary and economic department was invited to the RBNZ to observe its “forecast week” and monetary policymaking process early in 2017.
Turner reports there are many praiseworthy elements to the RBNZ’s
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