New Zealand's central bank highlights restrictive policy in restraining inflation

WELLINGTON, June 19 (Xinhua) -- A period of restrictive policy is necessary to ensure inflation will return to target over a reasonable timeframe, Reserve Bank of New Zealand Chief Economist Paul Conway said on Wednesday.

Compared to other countries, tightness in the labor market, brought about by the border closure, played an important role in generating inflation in New Zealand, Conway said in an online webina