Source: New Zealand Treasury:
The Reserve Bank of New Zealand (the Reserve Bank) has completed its first five-yearly review of the Monetary Policy Committee Remit (the Remit), as required by the Reserve Bank of New Zealand Act 2021. The review was undertaken in two phases, the first of which determined the scope of the review, while the second phase consulted on the potential changes to the Remit. The new Remit came into effect on 28 June 2023. The Reserve Bank has published its Ministerial Advice on the Remit review on its website. This proactive release is for the Treasury’s advice during the second phase of the review.
The Reserve Bank’s Ministerial advice on the Remit review is available here: https://www.rbnz.govt.nz/monetary-policy/about-monetary-policy/remit-review
We have previously published the Treasury’s advice to the Minister of Finance following the conclusion of the first phase of the Remit review. That advice is available here: Treasury Advice on the Reserve Bank’s Proposed Scope of Remit Advice Information Release.
