Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Bill (No 2)

This Act is the Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Act (No 2) . This Act comes into force on the day after the date on which it receives the Royal assent. This Act amends the Reserve Bank of New Zealand Act 1989 (the ). The purpose of this Act is to broaden the economic factors that are considered as part of the primary function of the Reserve Bank. Replace section 8 with: The primary function of the Bank is to formulate and implement monetary policy directed to the economic objective of maintaining stability in the general level of prices while maintaining an exchange rate that is conducive to real export growth and job creation.