1 Feb 2012

No major monetary policy changes with Bollard's departure

6:36 pm on 1 February 2012

The Finance Minister says there won't be any significant changes to monetary policy, when the Reserve Bank governor departs.

Alan Bollard this week announced he will not seek another term when his current one runs out in late September.

Some economists think the changing of the guard should be an opportunity to overhaul the country's monetary policy, and expand the governor's role away from just controlling inflation.

But Finance Minister, Bill English, says there won't be any significant changes.

He says there seems to be debate about whether New Zealand has an inflation problem, but inflation is dropping away and what's needed is more growth.