June 2016; Reid (forthcoming), ‘Evaluating the Reserve Bank’s forecasting performance’, Reserve Bank of New Zealand Bulletin; and Richardson (2016), ‘Behind the scenes of an OCR decision in New Zealand’ Reserve Bank of New Zealand Bulletin, Vol. 79. No. 11. July 2016.
2  For a description of previous approaches to decision making at the Bank see: Brash (2001), ‘Making monetary policy: a look behind the curtains’, remarks by Donald Brash, Governor of the Reserve Bank of New Zealand, 1 March 2001; RBNZ (2007), ‘Submission to the Finance and Expenditure Committee inquiry into the future monetary policy framework’.