Hunt on for new Reserve Bank MPC members

Under its remit, the MPC is responsible for maintaining a stable general level of prices over the medium term and supporting maximum sustainable employment.

It is made up of four internal RBNZ staff and three external members. Monetary policy decisions, such as setting the Official Cash Rate, are made by the seven members of the committee.

MPC appointments are made by the Minister of Finance, on the recommendation of the Reserve Bank board.

The new MPC appointees will replace current members Professor Caroline Saunders and Peter Harris when their terms end in 2024; Harris on 31 March and Saunders’ term ends on 30 June.