But the Reserve Bank of New Zealand Act 1989 did exactly what this bill is attempting to undermine: it maintained the important independence between the executive and the Reserve Bank by setting a set of criteria that the Reserve Bank is bound by law to follow, without fear or favour. There's no doubt that there has been some tinkering at the edges, and in my interjection to the Minister of Finance, where I said that most of it was being done by him, he acknowledged that. 