News: New Zealand gov't to set out central bank changes in coming weeks - fin min

• New finance minister provides some details on c.bank changes
• Robertson says no specific target on employment - local radio
• Not concerned about recent fall of New Zealand dollar

WELLINGTON, Oct 31 (Reuters) - New Zealand's new Labour-led government will announce a programme and timeline for a review of the central bank in coming weeks as it looks to broaden its focus to include employment as well as inflation, the finance minister said on Tuesday.

Grant Robertson said the government would seek inspiration from the United States and Australia when moving towards a dual mandate for the Reserve Bank of New Zealand (RBNZ).

They would stick to their current inflation target band of 1-3 percent and would not seek a specific employment target, he said. They would also seek to move away from the RBNZ governor being sole decision-maker towards policy decisions by committee.

With unemployment already low, economists do not expect the changes to alter the RBNZ's policy direction much in the short term, but it would reinforce its stance of keeping interest rates on hold at record lows for years.

"We've been quite clear about the changes that we want to make, it will be necessary to look at them in the context of other things that the bank does, so we will announce a programme and a timeline for the review in the coming weeks," Robertson told Radio New Zealand.

"In the interim we will continue with the policy targets agreement as it is."

The New Zealand dollar was flat at $0.6873, having fallen 6.4 percent since before the Sept. 23 election.

Robertson said he was not "especially" concerned about the recent fall in the kiwi, the world's 11th most traded currency, adding volatility was normal after a change of government.

The government's plans to review the central bank act to include employment are in keeping with its broader goal to make the economy work for all New Zealanders.

The changes would signal a big shift for the RBNZ which was the first in the world to adopt an inflation target in 1989.

"We want to be clear about the bank's role, not only in managing inflation which is extremely important, but also in terms of the overall health of the economy," Robertson said.

Analysts say the extent to which the central bank broadens its focus in practice will greatly depend on the new central bank governor who will be appointed in March.

Robertson also said the government was seeking changes to the governance of the bank and would consider publishing meeting minutes as in other countries to boost transparency.

"What we want to do is open up the decision making beyond the governor to a committee that includes both internal people from the bank but also outside experts," he said.