The Reserve Bank of New Zealand’s (“RBNZ”) role is to discuss and apply changes to monetary policy in New Zealand.
Unlike other central banks, the RBNZ’s decision-making authority when it comes to the country’s monetary policy ultimately rests with the central bank governor.
The RBNZ’s aims are to maintain price stability and to avoid instability in output, interest rates, and exchange rates, with a targeted inflation of 1.5%. This is a heavy focus for the RBNZ, which means a failure to meet it is likely to result in the governor’s dismissal.
The RBNZ meets eight times per annum.