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RBNZ: The RBNZ has noted that "the Secretary to the Treasury, Gabriel Makhlouf,
has accepted Reserve Bank Governor Adrian Orr's invitation to attend monetary
policy deliberation and decision meetings as an observer from the end of this
month. Mr Orr extended the invitation to deepen Mr Makhlouf's understanding of
the process leading into a monetary policy decision, with the aim of ensuring a
smooth transition to a new monetary policy framework. This invitation comes
ahead of the proposed creation of a formal Treasury observer position in the
Reserve Bank of New Zealand (Monetary Policy) Amendment Bill. This Bill is
currently being considered by the Finance and Expenditure Committee. As outlined
in his letter to the Governor, Mr Makhlouf recognises and respects the highly
confidential nature of these meetings. Mr Makhlouf's letter outlines how he
intends to manage issues related to confidentiality, and any actual or perceived
conflicts of interest. The letter also details how Mr Makhlouf will avoid any
perception of conflict in relation to his statutory responsibility for the
Treasury's debt management function."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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