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RBNZ proposal to Cabinet in near future
RBNZ proposal to Cabinet in near future
Finance
Minister Michael Cullen confirmed today that he would be
taking to the Cabinet a recommendation from the Reserve Bank
for a more active role in the foreign exchange market.
“As anyone who has been following my statements on monetary policy management over recent months will know, I am strongly supportive of the change and will be recommending it to my ministerial colleagues.
“The Cabinet paper incorporating the Bank’s advice is still being drafted. I would expect to be in a position to take it to the Cabinet in the near future.”
Dr Cullen will be consulting with
other political parties to achieve a parliamentary majority
for the change which will require a motion in
Parliament.
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