Monetary policy strategy in New Zealand

Julia Ratcliffe and Ross Kendall
Additional contact information
Ross Kendall: Reserve Bank of New Zealand, http://www.rbnz.govt.nz

Reserve Bank of New Zealand Bulletin, 2019, vol. 82. No.3, No 3, 25 pages

Abstract: A clear and effective strategy can play a significant role in helping monetary policy decision makers to achieve their objectives. This article outlines a framework for monetary policy strategy in New Zealand. It discusses the underlying principles of effective strategy in the context of a flexible inflation targeting regime and articulates the Reserve Bank of New Zealand’s monetary policy strategy during the inflation targeting period. On 1 April 2019, amendments to New Zealand’s monetary policy framework came into effect. Changes to the Reserve Bank of New Zealand Act 1989 added an employment objective to the Reserve Bank’s long-standing price stability objective, and created a formal Monetary Policy Committee with members internal and external to the Bank. Therefore, it is timely to take stock of the Bank’s current monetary policy strategy, which will provide a platform from which the Monetary Policy Committee’s strategy can be developed.

Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.rbnz.govt.nz/-/media/ReserveBank/Files ... 19/rbb2019-82-03.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nzb:nzbbul:apr2019:3

Access Statistics for this article

More articles in Reserve Bank of New Zealand Bulletin from Reserve Bank of New Zealand Contact information at EDIRC.
Bibliographic data for series maintained by Reserve Bank of New Zealand Knowledge Centre ().