The Policy Targets Agreement (PTA) sets out specific targets for maintaining price stability.
- Finance Minister Steven Joyce and incoming Acting Reserve Bank Governor Grant Spencer have signed a renewed PTA today
- Takes effect on 27 September 2017, after Reserve Bank Governor Graeme Wheeler completes his term on 26 September 2017
- There is no change from the existing agreement which requires the Reserve Bank to keep future CPI inflation outcomes between 1 per cent and 3 per cent on average over the medium term, with a focus on keeping future average inflation near the 2 percent target midpoint
Bolding mine ... as you were.
