
Monetary Policy Without Mates: Why the Reserve Bank is Right to Focus on Price Stability
The Reserve Bank of New Zealand has been unfairly scapegoated for the current recession when it was simply doing its job of bringing inflation under control. The research note, Monetary Policy Without Mates, reveals that while the RBNZ fought to tame inflation that peaked at nearly 8%, the government's fiscal policy worked against these efforts – forcing interest rates to stay higher for longer. Read more