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Which of the following statements about the monetary policy in New Zealand is INCORRECT? a. A decrease in the OCR generally encourages consumption. b. Currency

Which of the following statements about the monetary policy in New Zealand is INCORRECT?

a. A decrease in the OCR generally encourages consumption.

b. Currency stability is a goal of the monetary policy.

c. The Reserve Bank is required to keep inflation between 1 and 3 percent on average over the medium term.

d. It seeks to avoid unnecessary instability in output.

e. The OCR is the only monetary tool.

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