____________ 1 2 3  3  Statement of Intent 1 July 2022 - 30 June 2026 https://www.rbnz.govt.nz/hub/-/media/project/sites/rbnz/files/publications/statements-of-intent/rbnz-soi-2022.pdf Bank of New Zealand Act 2021 https://www.legislation.govt.nz/act/public/2021/0031/latest/LMS286978.html RBNZ Act Review – Final Cabinet Papers https://www.treasury.govt.nz/sites/default/files/2021-06/rbnz-4436698.pdf  4  The Financial Policy Remit4 states in pursuing Financial Stability: the government seeks strong institutions; proportionate regulation; consistency of treatment; maintaining competition; and efficiency; inclusion; innovation; and a low incidence of failure of entities regulated by the RBNZ.
Since the second half of 2014, however, this differentiation no longer seems valid. Namely, China has been lowering policy interest rates more flexibly in response to a declining trend in the inflation rate since November 2014 – to contain an increase in real interest rates.