Intent and performance
The Reserve Bank has released its Statement of Intent (SoI) for 2024-2028 and Statement of Performance Expectations (SPE) for 2024/2025.
The documents outline the bank's plans to enable economic wellbeing and prosperity for all New Zealanders and detail how its performance will be measured.
Strategic themes and outcomes
The SoI sets out the Reserve Bank’s longer-term strategy, including six strategic themes and three high-level outcomes.
“New Zealand’s financial system is resilient, meets the needs of New Zealanders, and is supported by price stability,” the SoI said.
The Reserve Bank’s key activities include monetary policy, financial stability, money and cash policy, and financial markets infrastructure.
“Successful execution of these activities underpins our ability to deliver our mandate in line with our strategic themes and high-level outcomes,” RBNZ said.
Taking a Te Ao Māori perspective, the Te Waka Hourua strategy focuses on people, culture and organisation, policy impact, and advocacy building. This strategy supports the long-term aim of providing economic wellbeing and prosperity for all New Zealanders.
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Performance measures
The SPE introduces nine output classes and 22 performance measures to assess the Reserve Bank’s service performance.
“We regularly review the way we assess and report our performance to ensure we focus on measuring the impacts we want to have,” RBNZ said.
The Reserve Bank stressed the importance of a capable, diverse, inclusive, and resilient workforce.
“Our focus on people, culture, and our ability to respond to change in a sustainable manner is key to achieving our purpose,” RBNZ said.
The Reserve Bank’s commitment to operational excellence includes investigating technological advancements like digital cash to promote productivity, innovation, and competition within the financial system.
Stakeholder engagement
The Reserve Bank aims to engage effectively with the public and other stakeholders, maintaining the integrity of the cash system and managing foreign reserves to support its statutory objectives.
For more details on the Reserve Bank’s plans and performance measures, read the full Statement of Intent and Statement of Performance Expectations at the RBNZ website.
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