Earlier this week, NZ Finance Minister Grant Robertson launched a review of the Central Bank’s mandate to include maximizing employment as a monetary policy goal. However, he said there was no plan to include the New Zealand dollar, the world’s 11th most traded currency, in the bank’s revised mandate. Speaking in Wellington overnight, Mr. Robertson said that the Reserve Bank of New Zealand’s 2% inflation target could be up for discussion although the government remains committed to the current 1-3% inflation band. The new Labour government has said it might include an employment target in the RBNZ’s monetary mandate, even if it is less specific than the government’s own, first-term 4% target. Mr. Robertson has already said that a dual mandate, targeting both inflation and employment, “may mean looser policy in some instances.” These latest comments have been enough to trigger a bit of profit-taking on the Kiwi Dollar which has now fallen from a high of USD0.6972 after the RBNZ meeting to open in North America this morning at 0.6938. Against the Canadian Dollar, the NZD fell to an overnight low of CAD0.8776 but has recovered a little to open at NZD/CAD0.8790.