We have managed robust discussion and come to consensus decisions. The nature of these discussions is published as a ‘Record of the Meeting’ for all to see.
We also won this year’s Central Bank award for transparency in how we operate.7 I am proud to note that consumer price inflation is currently very near the mid-point of the target range (at 1.9%) and that employment is at, if not slightly above, our current broad estimate of maximum sustainable employment.8  5 RBNZ Speech – Federation of Māori Authorities (FOMA), Sep, 2019 https://www.rbnz.govt.nz/-  /media/ReserveBank/Files/Publications/Speeches/2019/speech2019-09-27.pdf?revision=75976566-d7b944a0-9d6b-94a876a96a00; RBNZ Speech – Raising Māori Investment Capability Conference, Feb 2020, https://www.rbnz.govt.nz/research-and-publications/speeches/2020/speech2020-02-13 6 Monetary Policy Statement, Feb 2020, https://www.rbnz.govt.nz//media/ReserveBank/Files/Publications/Monetary%20policy%20statements/2020/mpsfeb20.pdf?revision=119 0300f-2716-47e2-a5cf-44bc5daba049&la=en; Reserve Bank of New Zealand (Monetary Policy) Amendment Bill http://legislation.govt.nz/bill/government/2018/0079/latest/LMS65426.html?src=qs 7 RBNZ Media Release - https://www.rbnz.govt.nz/news/2020/02/rbnz-monetary-policy-handbookinternationally-recognised-for-transparency 8 Monetary Policy Statement, Feb 2020, https://www.rbnz.govt.nz//media/ReserveBank/Files/Publications/Monetary%20policy%20statements/2020/mpsfeb20.pdf?revision=119 0300f-2716-47e2-a5cf-44bc5daba049&la=en  6  Of course we are forward-looking, given the lags between setting monetary conditions and then observing the inflation and employment outcomes.