Plain language law

New Zealand law explained for everyone

Reserve Bank of New Zealand Act 2021

Central bank functions - Monetary policy - Reports on monetary policy

131: Longer-term report on formulation and implementation of monetary policy

You could also call this:

"The Reserve Bank checks and reports on its money decisions every 5 years."

Illustration for Reserve Bank of New Zealand Act 2021

The Reserve Bank of New Zealand looks at how it makes monetary policy decisions every 5 years. You can think of monetary policy as the way the Bank controls the money supply in New Zealand. The Bank checks if its decisions are working well and makes a report about it. The Bank gives this report to the Minister and puts a copy on its website. The Bank makes sure the Monetary Policy Committee agrees with what is in the report before it is finished. When the report is done, it goes to the House of Representatives for them to look at, you can find more information about previous versions of this law by looking at the Reserve Bank of New Zealand Act 1989.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287175.

This page was last updated on — View changes

Topics:
Money and consumer rights > TaxesGovernment and voting > Government departments
Previous

130: Contents of reports on monetary policy, or

"What's in a Report About Monetary Policy?"

Next

132: Longer-term report must contain information required by charter, or

"What the longer-term report about money must include"

Part 3Central bank functions
Monetary policy: Reports on monetary policy

131Longer-term report on formulation and implementation of monetary policy

  1. The Bank must review and assess the formulation and implementation of monetary policy at least every 5 years (or more frequently if required by the charter).

  2. The Bank must—

  3. deliver a report on the review and assessment to the Minister as soon as practicable after the review and assessment is completed; and
    1. publish a copy of the report on an Internet site maintained by, or on behalf of, the Bank.

      1. The Bank must ensure that the MPC has been consulted on a draft of the report under this section.

      2. Every report under this section stands referred, by virtue of this section, to the House of Representatives.

      Compare