1A Purpose

(1)

The purpose of this Act is to provide for the Reserve Bank of New Zealand, as the central bank, to be responsible for—

(a)

formulating and implementing monetary policy designed to promote stability in the general level of prices, while recognising the Crown’s right to determine economic policy; and

(b)

promoting the maintenance of a sound and efficient financial system; and

(c)

carrying out other functions, and exercising powers, specified in this Act.

(2)

This section does not limit the functions or powers given to the Bank by any other enactment.

Section 1A: inserted, on 10 September 2008, by section 5 of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).