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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Reporting obligations - Planning: statement of intent

216: Purpose of statement of intent

You could also call this:

"The Reserve Bank explains its plans to the public and the Government."

Illustration for Reserve Bank of New Zealand Act 2021

The purpose of a statement of intent is to help the public know what the Reserve Bank of New Zealand is doing. You can think of it as a way for the Bank to be accountable to the public. It does this by letting the Government help decide the Bank's goals and what it wants to achieve in the medium term. The statement of intent also tells the House of Representatives what the Bank plans to do, and it gives a basis for checking how well the Bank does later on.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287258.

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Part 5Financial and accountability matters
Reporting obligations: Planning: statement of intent

216Purpose of statement of intent

  1. The purpose of a statement of intent is to promote the public accountability of the Bank by—

  2. enabling the Crown to participate in the process of setting the Bank’s strategic intentions and medium-term undertakings:
    1. setting out for the House of Representatives those intentions and undertakings:
      1. providing a base against which the Bank’s actual performance can later be assessed.

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