New Zealand's Willis Wants RBNZ to Add Summer Rate Decision
New Zealand Finance Minister Nicola Willis wants the central bank to increase the frequency of its rate decisions, ending its practice of a three-month summer break and bringing it in line with global peers.
'I'm particularly concerned about the 12-week break over summer, which is a long time to go between meetings,' Willis told Bloomberg News in a statement. 'The central banks of England, Canada, Australia and the United States have shorter breaks and meet more frequently. I think the Reserve Bank should return to meeting eight times a year.'
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