According to CoinMeta, New Zealand's opposition party has pledged that if they win the elections on November 7th, they will restore the dual monetary policy mandate of the Reserve Bank of New Zealand (RBNZ), focusing again on maximum sustainable employment and inflation control. An analysis by Westpac Bank suggests that the market should not assume that restoring the employment mandate will automatically lead to a change in policy, as its actual effect depends largely on the type of shock faced by the economy, rather than the wording of the mandate itself. The analysis argues that in a typical demand-driven cycle, inflation and employment tend to change in tandem, so the dual mandate has little impact on the interest rate setting of the RBNZ. The more relevant scenario at present is a supply shock, such as a surge in oil prices, where there may be a divergence between inflation and the labor market, and in such cases, the employment mandate could give the Monetary Policy Committee room to tolerate inflation that exceeds targets.