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The guy who started the whole targeted inflation bull**it thinks it is bad in its current form. Agreed 0-2% sounds more like price stability than 1-3%.
The bloke McDermott quoted lower in the article - says John McDermott - Motu Executive Director and former RBNZ Assistant Governor and Chief Economist - isn't convinced there's a strong enough relationship between interest rates and asset prices for the RBNZ to target the latter.
He doesn't think there is a strong relationship between interest rates and asset prices?????? Holy c*ap what planet is this guy from. What an incredibly stupid thing to say.
https://www.interest.co.nz/news/1113...-inflation-and
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