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AAP

Ben McKay

NZ government's first law to reform Reserve Bank

Reserve Bank NZ Inflation Nicola Willis New Zealand Grant Robertson Mark Coote

Finance Minister Nicola Willis says the cost of living crisis is the major challenge facing NZ. (Mark Coote/AAP PHOTOS)

New Zealand's coalition government has begun its roll-back of Labour reforms, passing its first law since the election.

The Chris Luxon-led government re-oriented the Reserve Bank of New Zealand (RBNZ) on Wednesday by stripping employment from the central bank's mandate.

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