The Monetary Policy Committee (MPC) has two main jobs. You can think of the MPC as a group that helps the Reserve Bank of New Zealand make big decisions. The MPC must formulate monetary policy, which is like creating a plan for how the bank will manage money in New Zealand. The MPC also has to do other jobs that it is given under the Reserve Bank of New Zealand Act 2021. You can find more information about this by looking at the Reserve Bank of New Zealand Act and similar laws, such as the one from 1989.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287130.
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97: Monetary policy committee continues, or
"The Monetary Policy Committee keeps working as part of the Reserve Bank of New Zealand."
99: Board must regularly review performance of MPC and members, or
"The Reserve Bank's board checks the Monetary Policy Committee is doing its job properly."
The MPC must—
