“Inflation targeting has failed the needs of the New Zealand economy”, was the response from BERL Senior Economist Dr Ganesh Nana to today’s Monetary Policy Statement.

“That the RB, in their forecast, is prepared to accept four consecutive years of negative or nil employment growth is clear evidence that New Zealanders are paying a very high price indeed for the inflation control and targeting focus of economic policy”, continued Dr Nana.

Download the press release