Reserve Bank says remit change consistent with its advice

Reserve Bank chair Neil Quigley not concerned. (Image: Supplied)

Wed, 13 Dec 2023

The Reserve Bank of New Zealand says a change to its monetary policy remit is consistent with its previous advice.The Government has passed legislation through Parliament under urgency today returning the central bank’s remit to a single focus on an inflation target and removing the objective to support maximum sustainable employment.In a statement, Reserve Bank of New Zealand chair Neil Quigley said the bank acknowledged the amended remit for the Monetary Policy Committee (MPC) issued today by the finance minister Nicola Wills.The MPC Re...

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