NZ FinMin Robertson: NZ Govt committed to 1-3% inflation band

Comments from New Zealand Finance Minister Grant Robertson are crossing the wires now, via Reuters, expressing his take on the RBNZ’s price target and monetary policy.

Key Headlines:

2% inflation focus could be up for discussion.

NZ Govt committed to 1-3% inflation band.

Dual mandate may see a looser policy in some measures.

RBNZ board expects to recommend new governor by Xmas.

"I don't have a proposal at this stage to change the midpoint, but I'm sure when I sit down with a new governor that may be a topic that comes up. It is possible for us to take another look at that when a new governor is appointed."