{"id":48414,"date":"2017-10-24T06:54:42","date_gmt":"2017-10-24T06:54:42","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=48414"},"modified":"2017-10-24T06:57:47","modified_gmt":"2017-10-24T06:57:47","slug":"incoming-new-zealand-government-review-central-bank-objectives","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/world-news\/incoming-new-zealand-government-review-central-bank-objectives.html","title":{"rendered":"Incoming New Zealand government to review central bank objectives"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">Incoming New Zealand government to review central bank objectives<\/span><\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Incoming New Zealand government to review central bank objectives:- New Zealand prime minister-designate Jacinda Ardern said on Tuesday her new Labour-led government plans to review and reform the Central Bank Act to possibly include employment, alongside inflation, as a dual target.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">New Zealand First, the junior partner in the new coalition government, also wants to broaden the central bank\u2019s focus to include greater management of the local dollar\u2019s value against other currencies.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">\u201cWe have been looking at changing the objectives set out in the Reserve Bank Act,\u201d Ardern told reporters in Wellington.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">\u201cThe objectives of the Act to possibly include employment is certainly part of our plans.\u201d<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The New Zealand dollar suffered a fresh setback on Tuesday as Ardern and New Zealand First leader Winston Peters confirmed their policy priorities. The kiwi dollar shed all its early gains to be back at $0.6954, having briefly been as high as $0.7003 at one point.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Rather than just focusing on inflation, Labour wants the Reserve Bank to have a full employment goal when devising policy settings, bringing it into line with the United States and Australia.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">While unemployment in New Zealand is at near decade lows of below 5 percent, job growth was a hot political issue during the recent election.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The unlikely alliance between the center-left Labour and populist New Zealand First was brokered after a Sept. 23 election failed to deliver a majority to the governing National or opposition Labour.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Peters has been offered the role of deputy prime minister, which he is likely to accept, and Ardern indicated on Tuesday that Peters would also become foreign minister, putting a protectionist at the forefront of New Zealand\u2019s international relations.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Peters was foreign minister in a Labour-led government in 2005, during which time he became among a handful of Western politicians to visit North Korea.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Labour and New Zealand First share similar policies designed to cut immigration and ban foreigners from buying existing property. While a \u201cconfidence and supply\u201d agreement with the Greens is delivering policies across the political spectrum, such as a push to legalize cannabis for personal use.<\/span><\/p>\n<p><span style=\"font-size: 8pt\">Source:-http:\/\/www.reuters.com\/article\/us-newzealand-election\/incoming-new-zealand-government-to-review-central-bank-objectives-idUSKBN1CS2SR<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/world-news\/incoming-new-zealand-government-review-central-bank-objectives.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Incoming New Zealand government to review central bank objectives Incoming New Zealand government to review central bank objectives:- New Zealand prime minister-designate Jacinda Ardern said on Tuesday her new Labour-led government plans to review and reform the Central Bank Act to possibly include employment, alongside inflation, as a dual target. 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