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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Reporting obligations - Planning: statement of performance expectations

228: Purpose of statement of performance expectations

You could also call this:

"The purpose of the Reserve Bank's performance plan is to set goals and track progress."

Illustration for Reserve Bank of New Zealand Act 2021

The purpose of a statement of performance expectations for the Reserve Bank is to help the Minister set annual performance goals. You can think of it like a plan that the Minister and the Bank work on together. It also informs the House of Representatives about what the Bank aims to achieve. The statement is used to assess how well the Bank performs. This means the Bank's actual performance can be compared to what they planned to do. You can find more information about this in the Reserve Bank of New Zealand Act. The statement of performance expectations is an important document that helps the Bank and the Minister work together. It sets out what the Bank wants to achieve and how it will be assessed. This helps to make sure the Bank is working well and achieving its goals.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287273.

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"The Reserve Bank must share changes to its plans with the public and Parliament."

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229: Obligation to prepare statement of performance expectations, or

"The Reserve Bank must prepare a plan for what it wants to achieve each year."

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

228Purpose of statement of performance expectations

  1. The purpose of a statement of performance expectations for the Bank is to—

  2. enable the Minister to participate in the process of setting annual performance expectations; and
    1. enable the House of Representatives to be informed of those expectations; and
      1. provide a base against which actual performance can be assessed.

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