New Zealand’s central bank plans to undertake two rounds of public consultation on its monetary policy remit this year before proposing any changes to Finance Minister Grant Robertson in 2023. The Reserve Bank also considers it appropriate to consult other political parties on the remit, which defines the Monetary Policy Committee’s price stability and employment goals. Those goals are currently to aim for 2% inflation and support maximum sustainable employment. Under its new legislation, the RBNZ must consult with the public on the remit and provide advice to the minister on possible revisions before it is renewed ... (full story)