The reform panel has recommended committee-based decision making
Which was as expected.
- The Reserve Bank of New Zealand currently has sole decision making power vested in the Governor
- But in practices that is not how it works - it's a decision reached through consultation with other board members and staff of the bank.
So, this panel is in effect recommending that policy catches up with practice
This is news, but its not, if you know what I mean. The government wanted this recommendation, it makes sense. the government got it.
Carry on
