Large movements in long-term rates translate, of course, into wide swings in bond prices and thus potentially large capital gains and losses. To the extent that the FOMC is concerned about stabilizing the bond market, the key is not necessarily keeping changes in the policy rate small but in making policy changes as easy to forecast as possible.
Embedding Te Ao Māori in our approach and learning from the different perspectives and knowledge it brings, we will be a great team building a better central bank for New Zealand. Whakakapinga (conclusion) Mā te rongo ka mōhio, mā te mōhio ka mārama, mā te mārama ka mātau, mā te mātau ka ora.