MNI China Daily Summary: Monday, April 29

MNI BRIEF: China Pushes Back Against Japan's Semiconductor Threat

MNI: China CFETS Yuan Index Down 0.33% In Week of Apr 26

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1066 Mon; -4.49% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

April Inflation: Services Decelerate, Core Goods Likely Soft

MNI: GERMANY APR CPI +2.2% Y/Y

Core CPI Outlook: Services Softens, Energy Uptick Underwhelms

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: NZ Gov Drops Employment From RBNZ Remit

(MNI) Melbourne

New Zealand’s Minister of Finance Nicola Willis has amended the Remit for the Reserve Bank of New Zealand’s Monetary Policy Committee, removing the objective to support maximum sustainable employment.

“The amendment is consistent with advice the Reserve Bank has given in the past and helps to reiterate our focus on achieving low and stable consumer price inflation,” said Board Chair Professor Neil Quigley.

Willis kept the bank's 1-3% inflation target.

"Alongside the new Remit, the MPC has also agreed to changes to the MPC’s Charter with the Minister of Finance," the RBNZ noted in a statement. "The Charter sets out decision-making processes and transparency requirements for the MPC.

MNI noted the newly-elected centre-right government would change the MPC’s remit within its first 100 days in office. (See MNI: RBNZ To Lose Dual Mandate Within 100 Days- Ex Staff) The government has targeted a number of other reforms, which it hopes will increase accountability. (See MNI INTERVIEW: RBNZ Reform To Add Urgency To Inflation Fight)

Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Central Bank NewsPolicy NewsRBNZAPACNew ZealandBriefStoryRegion
Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Central Bank NewsPolicy NewsRBNZAPACNew ZealandBriefStoryRegion

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.