New Zealand's central bank said Monday it will consider employment as well as inflation when setting interest rates and making other monetary policy decisions. The Reserve Bank has aimed to keep inflation under control at about 2 percent. The change takes effect Tuesday as part of an agreement when incoming Reserve Bank Governor Adrian Orr begins his five-year term. Those decisions are currently made solely by the central bank governor. The new mandate does not come with a specific target for the unemployment rate.

Source: ABC News March 26, 2018 05:28 UTC