Indicative monetary planning, rather than strict credit rationing that used to be practiced prior to 1992, is done under the aegis of National Credit Consultative Council, which still makes the Credit Plan. Intermediate monetary targets are set there consistent with ultimate goals of inflation and real GDP growth.
Our Te Ao Māori strategy is helping inform our policy programmes, broaden our external stakeholder engagement, and grow our internal cultural capabilities.5 Navigating a challenging monetary environment – developing our roots The Government’s review of the Reserve Bank’s legislation has been underway for the past two years.