13  New Zealand is ranked number 1 on the following international surveys: World Bank Group ‘Doing Business Report, Transparency International’s, ‘Corruption Perceptions Index’; and is number 2 on the Institute for Economics and Peace’s ‘Global Peace Index’. 14  Labour productivity growth (real GDP/total hours worked) has been flat for the period since the beginning of 2013.
15  From 1993 Q3 to 2012 Q4 the Reserve Bank’s sectoral factor model suggests annual core inflation was 2.2 percent. 16  As measured by the Reserve Bank’s sectoral factor model. The target band is specified in terms of annual CPI inflation, not ‘core’ inflation. 17  Williams, R (2017) ‘Business Cycle Review: 2008 to present day’ RBNZ Bulletin Vol 80, No.