The Constitutional Position of an Independent Central Bank

@article{Goodhart2002TheCP,
  title={The Constitutional Position of an Independent Central Bank},
  author={C. A. E. Goodhart},
  journal={Government and Opposition},
  year={2002},
  volume={37},
  pages={190 - 210}
}
  • C. Goodhart
  • Published 1 April 2002
  • Economics
  • Government and Opposition
In 1989 The Reserve Bank Of New Zealand Act Gave The Rbnz the operational independence to vary monetary instruments, in particular to control the level of short-term money market rates, in such a way as to hold inf lation within a stated range over a stated period of time. That numerical range and period were to be agreed in a contractual arrangement between the Minister of Finance and the Governor, and the Governor was to be held personally responsible for achieving those agreed objectives. 
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