The last great pillar of Rogernomics was the Reserve Bank Act of 1989 which defined the bank's primary function as limiting inflation.
Roger Douglas had outlined the policy in his 1988 budget but at the end of the year he had been forced to resign because of tension with Prime Minister David Lange.
It was left to his successor, David Caygill, to enact this most fundamental aspect of Rogernomics.
Controlling inflation through monetary policy has remained central to the economic policies of all governments for the past 23 years even though critics suggest the Reserve Bank's targets should be broadened to include economic growth and employment.
When Reserve Bank Governor Alan Bollard retired in 2012, the Herald acknowledged the critics' point.
