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RBNZ to Make Monetary Policy Committee Vote Public for Transparency
The Reserve Bank’s influential rate-setting body aims to improve transparency and enhance public understanding of its decisions. The policy change, effective from Thursday, was agreed by the Finance Minister and the Reserve Bank of New Zealand’s Monetary Policy Committee (MPC), which sets the official cash rate, Reuters reported. Finance Minister Nicola Willis said the changes will ease existing restrictions, allowing committee members more freedom to discuss monetary policy publicly while still adhering to rules that ensure equal access to information. “The Monetary Policy Committee will also begin attributing material differences in views in its records of meetings,” Willis said in a statement. Governor Anna Breman said the changes strengthen transparency around members’ views, supporting the committee’s accountability.