Hon Bill English Minister of Finance
19 December 2008
Amended Policy Targets Agreement Signed
A new Policy Targets Agreement signed by Finance Minister Bill English and Reserve Bank Governor Alan Bollard has been
released today. The only change to the Policy Targets Agreement is a statement of the government's economic objectives,
as a backdrop for the operation of monetary policy.
The statement is as follows: "The government's economic objective is to promote a growing, open and competitive economy
as the best means of delivering permanently higher incomes and living standards for New Zealanders. Price stability
plays an important part in supporting this objective".
The Finance Minister and Reserve Bank Governor agree that the monetary policy framework and the main features of the
Policy Targets Agreement continue to provide the best basis for monetary policy to contribute to the economy returning
to a sustainable, stronger growth path over time, notwithstanding the current very difficult international environment.
The Policy Targets Agreement is available on the Reserve Bank of New Zealand website:
http://www.rbnz.govt.nz/monpol/pta/index.html.
ENDS