It is genuinely believed that the recent financial crisis is largely precipitated by rampant financial illiteracy or the lack of transparency that financial literacy is supposed to bring into the model code books of financial service providers.
Through the mid-90’s onwards, 0 – 3 percent, then up to 1 – 3 percent (our current target) in 2002. The focus on the 2 percent midpoint was added in 2012. 18 Irwin, N., Of Kiwis and Currencies: How a 2% Inflation Target Became Global Economic Gospel, New York Times, Dec. 19, 2014. 19 The remit and charter can be accessed at: https://www.rbnz.govt.nz/monetary-policy/aboutmonetary-policy/monetary-policy-framework.