The New Reserve Bank bill was filed in the New Zealand parliament | Instant News


FILE PHOTOS: Two people walk towards the entrance of the New Zealand Reserve Bank located in the capital of New Zealand Wellington, March 22, 2016. REUTERS / Rebecca Howard / Photo File

WELLINGTON (Reuters) – A new bill was put forward in New Zealand’s parliament on Tuesday which the government said would improve central bank governance and accountability.

The Reserve Bank Bill, among others, added the objective of overall financial stability for the Reserve Bank of New Zealand (RBNZ), Finance Minister Grant Robertson said in a statement.

This will complement the RBNZ’s monetary policy objectives which were recently renewed, he said.

The bill is expected to be passed in September 2021, with full start targeted in July 2022 after a nine-month transition period, the RBNZ said.

Reporting by Praveen Menon; Editing by Himani Sarkar

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