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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Monetary policy committee - Charter for MPC

101: Charter for MPC

You could also call this:

"A Guide for the Monetary Policy Committee to Make Good Decisions"

Illustration for Reserve Bank of New Zealand Act 2021

You need a charter when it comes to the MPC. This charter must be in force under the Reserve Bank of New Zealand Act 2021, which you can read about in clause 7 of Schedule 1 and section 103. The charter is important because it helps with transparency and accountability. You can think of the charter like a guide that helps the MPC make good decisions. It sets out rules for how the MPC should work, including how they make decisions. This helps make sure the MPC is transparent and accountable in what they do. The charter is there to fill in any gaps in the Act, so it only covers things that are not already dealt with in the Reserve Bank of New Zealand Act 2021.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287134.

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100: Membership of MPC, or

"Who can be on the Monetary Policy Committee?"

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102: Content of charter, or

"What the Monetary Policy Committee charter must include"

Part 2Reserve Bank of New Zealand
Monetary policy committee: Charter for MPC

101Charter for MPC

  1. A charter must be in force under this Act (see clause 7 of Schedule 1 and section 103).

  2. The purpose of the charter is to provide for the following to the extent that those matters are not otherwise provided for in this Act:

  3. requirements to promote transparency and accountability in connection with the performance of the MPC’s functions; and
    1. decision-making procedures.

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