Cost-driven inflation and its impact on RBNZ’s monetary policy – interest.co.nz 18 July 2024

Summarised by Centrist

Three-quarters of annual inflation in New Zealand is due to external cost pressures, beyond the RBNZ’s monetary policy control. Economists predict inflation to fall within the Reserve Bank’s target range soon. Despite this, non-tradable inflation remains high, influenced by factors like taxes and insurance premiums, which monetary policy impacts slowly.

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If ministers can’t interfere, who fixes state-media bias?

Editorial independence protects TVNZ from political interference, but it does not remove accountability when bias occurs. Ministers cannot direct coverage, but the board still has responsibility through leadership, oversight and senior appointments.

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