Does this mean that Goff will come clean about labours complicity in signing over our monetary independency to the privately owned international banking cartel in 1989 with the Federal Reserve act?
Labour leader Phil Goff is calling an end to the 20-year consensus on monetary policy.
Mr Goff is expected to use a hard-hitting speech to Federated Farmers in Wellington today to declare that the Reserve Bank’s policy targets – which influence interest rates and the dollar – are no longer working.
His speech is expected to call for a lift in New Zealand’s export performance and hit out at New Zealand’s volatile exchange rate as the major stumbling block.
The Reserve Bank uses interest rates to curb consumer demand when inflation threatens to breach the 0-3 per cent target agreed to with the Government under a policy targets agreement.