Speaking at an event in Wellington on Tuesday, New Zealand Finance Minister Grant Robertson voiced his support for the Reserve Bank of New Zealand’s (RBNZ) dual mandate.
Key quotes
Central bank’s dual mandate as “normal” and not something that’s caused inflation or interest rates to be unnecessarily high.
“Adrian has said very clearly that the decisions he’s made since we changed the mandate, in particular in the last few years, have not been affected by the fact that he had the dual mandate.”
“He would’ve made the same decision with or without the dual mandate.”
Market reaction
At the time of writing, NZD/USD remains pressured near intraday lows of 0.5919, losing 0.22% so far.
Source: https://www.fxstreet.com/news/nz-finmin-robertson-defends-rbnzs-dual-mandate-202309050210