Reserve Bank of New Zealand is an inflation targeting (IT) central bank. It was the first to have adopted the IT framework in 1990. Central banking as a whole has made tremendous progress since then. There is a lot of research on the way Central Banks have come to terms with inflation and have helped in their own way to stabilise growth in respective countries (However, this was all till the subprime came and we really don’t know which way the Central Banking is headed)
However, RBNZ is one central bank which is right at the top when it comes to explanation. The speeches etc from them are really simple and worth a read. It seems they take their role of being accountable to the public pretty seriously. They assume anyone who knows English should be able to read their report.
Now this recent one on the way NZ economy has performed over the years. It is a speech from the Governor – Alan Bollard. It is a nice prototype for all the analysts doing a report on a certain economy.