RBNZ is consulting on monetary policy
Technical briefings Tuesday & Wednesday this week; submissions close 27 January
Macroeconomics is interesting again! Inflation rates are high around the developed world — and inflation is costly. NZAE members, according to a recent survey, believe that that NZ inflation is yet to be tamed.
The Reserve Bank of New Zealand (RBNZ) is the institution tasked with keeping inflation within a target band of 1 to 3%. Its operations and policy matters for NZ’s economic stability, whether inflation is in the news or not.
Reviewing the Monetary Policy Committee’s Remit
The RBNZ is currently consulting on a review of its Monetary Policy Committee’s (MPC) Remit, which guides monetary policy decisions.1 They are asking for feedback on:
the best monetary policy framework for New Zealand
design of the primary objectives for monetary policy
calibration of the primary objectives for monetary policy
additional considerations for inclusion in the Remit
the MPC’s Charter
Technical briefings Tuesday 6 December and Wednesday 7 December
You have two options:
Tuesday 6 December | 9.30am – 11.30am | in-person briefing @ RBNZ, 2 The Terrace, Wellington
Wednesday 7 December | 1.00pm – 3.00pm | online briefing.
You can register for these briefings by emailing remit-review@rbnz.govt.nz. If you have time, please read the summary or full consultation paper before attending.
Attending one of the briefings would be useful, but not required, for making a submission to the review.
Consultation is open until 27 January 2023
The consultation paper, online submission form and other information is available at www.rbnz.govt.nz/remit-review. Or watch Paul Conway, the bank’s chief economist, explain.
For further details please email Karen Wong or Paul Conway.
This is the second round of consultation on the Remit.