NZ parliament formally launches central bank review bill

The RBNZ review is now formally under consideration in parliament

The New Zealand government has officially presented a bill to parliament to enact the Reserve Bank of New Zealand mandate reform.

The “Reserve Bank of New Zealand (Monetary Policy) Amendment Bill”, which will codify a dual mandate and a monetary policy committee decision-making model, was introduced to the parliament on July 23 and passed its first reading on July 26. Currently, it is at the select committee stage, according to the parliament’s website.

Select committees comprise a small group

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