I hereby give notice that, pursuant to section 122 of the Reserve Bank of New Zealand Act 2021 (“Act”), I issued a new Remit for the Monetary Policy Committee of the Reserve Bank of New Zealand (“Reserve Bank”) on 12 December 2023. The new Remit comes into effect on 20 December 2023, which is the day after the date of Royal assent of the Reserve Bank of New Zealand (Economic Objective) Amendment Act 2023.

The new Remit has been issued to align with the amendment to the Act to remove the economic objective to support maximum sustainable employment. This Remit replaces previous versions of the Remit.

The Remit is available on the Reserve Bank’s website: www.rbnz.govt.nz.

Dated at Wellington this 19th day of December 2023.

Hon NICOLA WILLIS, Minister of Finance.