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Reserve Bank of New Zealand News Releases

Reserve Bank of New Zealand News Releases

The Reserve Bank of New Zealand is New Zealand’s central bank. We promote a sound and dynamic monetary and financial system.

Articles by Reserve Bank of New Zealand News Releases

A “least regrets” approach to uncertainty

2 days ago

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua makes decisions about official interest rates in a way that is robust in the face of uncertainty about the economy, Reserve Bank Assistant Governor Christian Hawkesby says in a speech published today*.

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Thematic review of bank liquidity identifies areas for improvement

15 days ago

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has undertaken a thematic review of banks’ compliance with our liquidity policy, identifying a range of system, controls and risk management weaknesses as well as areas of good practice that the industry can learn from.

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Official Cash Rate on hold at 0.25 percent

August 18, 2021

[unable to retrieve full-text content]The Monetary Policy Committee agreed to retain the current stimulatory level of monetary settings, keeping the Official Cash Rate (OCR) at 0.25 per cent for now. Today’s decision was made in the context of the Government’s imposition of Level 4 COVID restrictions on activity across New Zealand.

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Formal AML/CFT warning issued to Westpac Banking Corporation

August 10, 2021

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has today issued a formal warning to the New Zealand branch of Westpac Banking Corporation (WBC) for failing to report prescribed transactions as required by the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009.

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Monetary Stimulus Reduced

July 14, 2021

[unable to retrieve full-text content]The Monetary Policy Committee agreed to reduce the current stimulatory level of monetary settings in order to meet its consumer price and employment objectives over the medium-term.

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Reserve Bank confirms consultations “key to the future of how New Zealanders pay and save”

July 7, 2021

[unable to retrieve full-text content]“The Reserve Bank of New Zealand – Te Pūtea Matua will be consulting extensively over the remainder of 2021 on issues key to the future of how New Zealanders pay and save, driven by its new stewardship mandate for cash and a broader currency system that supports the prosperity and wellbeing of New Zealanders,” confirmed Assistant Governor Christian Hawkesby today.

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Tide going out on Pacific banking services

June 30, 2021

[unable to retrieve full-text content]The tide is going out on international banking services for Pacific island nations, which could make trade, investment and sending money home more difficult and expensive.

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Reserve Bank committed to its kaitiaki role

June 29, 2021

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has outlined its commitment and key priorities as kaitiaki (guardian) of New Zealand’s financial system in its Statement of Intent (SOI) for 2021 – 2024, released today.

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Debt serviceability restrictions added to policy toolkit

June 15, 2021

[unable to retrieve full-text content]The Reserve Bank – Te Pūtea Matua and the Minister of Finance have agreed to update their shared Memorandum of Understanding (MoU) on macro-prudential policy and add debt serviceability restrictions to the list of potential tools available.

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A Strategic View of Te Pūtea Matua’s Balance Sheet

June 1, 2021

[unable to retrieve full-text content]Efforts to help reduce interest rates and restore confidence in financial markets have seen Te Pūtea Matua’s balance sheet almost triple in size, Reserve Bank Head of Financial Markets Vanessa Rayner says.

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Reserve Bank files High Court action against TSB Bank

May 27, 2021

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has today filed a statement of claim in the High Court against TSB Bank Limited for acknowledged breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009.

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