One for the New Zealand dollar traders, this via Bloomberg on the central bank’s independence
New Zealand’s central bank made a renewed bid to keep a Treasury Department official away from interest-rate decisions
- Reserve Bank had already opposed the government’s plan to add a non-voting Treasury official to its new Monetary Policy Committee, which is due to begin next year. Having lost that battle, the RBNZ in April then floated the idea that the official should leave policy meetings before decisions are made
- The idea failed to gain traction and the bank finally agreed later that month that the observer “may attend, and speak at, any meeting” of the MPC.
Some background info – note that government representatives do attend central bank meetings in some (but not many) developed economies.