New Zealand c.bank adds employment to inflation goals

WELLINGTON, March 26 (Reuters) – The Reserve Bank of New Zealand was tasked on Monday with reaching full employment in a new policy pact with the government, although it maintained the original mandate’s 1-3 percent inflation goal.

The greater focus on employment in the fresh mandate marks a shift for the RBNZ, which in 1989 was the first central bank to adopt an official inflation target, and fulfils the new Labour-led government’s campaign promise to promote job creation.

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