RBNZ plans update to monetary policy and prudential regulation
Changes are among several priorities outlined in 2018–21 statement of intent
The Reserve Bank of New Zealand set out changes to its monetary policy framework and prudential regulation as some of its priorities in the statement of intent 2018–21 it published on June 26.
New Zealand’s parliament is currently reviewing the Reserve Bank Act. One of the modifications entails adding an employment objective to the RBNZ’s mandate. The overhaul also transfers interest rate moves to a monetary policy committee that will include internal staff, as well as non-RBNZ members.
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