Framework, tools, and processes explained
The Reserve Bank has released an updated version of its Monetary Policy Handbook, providing a comprehensive overview of the country’s monetary policy framework.
The handbook explains the concepts and tools used to understand the economy and the decision-making processes of the monetary policy committee (MPC).
Monetary Policy Handbook: Key changes and updates
The update reflects significant changes in the MPC’s monetary policy remit, the legislative framework, and the broader range of monetary policy tools now in use.
“The handbook is intended to support the New Zealand public’s understanding of monetary policy and to support new members of the MPC to establish themselves in their roles,” the Reserve Bank said.
Eight key topics covered
The handbook addresses eight crucial topics:
- New Zealand’s monetary policy framework and MPC duties
- Monetary policy objectives – price stability and macroeconomic stabilisation
- Monetary policy strategy
- The New Zealand economy
- Monetary policy transmission in New Zealand
- Monetary policy tools
- Principles for good deliberation in the MPC
- The monetary policy decision-making process
Supporting public understanding
Published by the Economics directorate, the handbook aims to enhance public understanding of monetary policy.
It also aids new MPC members in establishing themselves in their roles.
The Reserve Bank emphasised the importance of this resource in fostering informed discussions on monetary policy.
Comprehensive resource for all
The handbook is a vital resource for anyone interested in New Zealand’s monetary policy, from the public to new MPC members.
The Reserve Bank encourages downloading and exploring the updated handbook to gain a deeper understanding of monetary policy in New Zealand.
Download the Monetary Policy Handbook here.
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