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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.

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Reserve Bank policy a key driver in economic performance

Release date 30 August 2017 The Reserve Bank’s monetary policy has been an important driver in the last five years behind above-trend growth in the economy and employment, Reserve Bank Governor Graeme Wheeler said today in a speech. Speaking to the Northern Club in Auckland, Mr Wheeler said that the New Zealand economy has generally performed well in the last five years. “It’s been a remarkable five years, especially with the challenges thrown up by the global...

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RBNZ appoints Assistant Governor, Head of Operations

Release date 29 August 2017 The Reserve Bank has appointed Sean Mills as Assistant Governor and Head of Operations. Mr Mills will take up his appointment on 29 November 2017. He is currently Chief Information Officer at the Department of Corrections. As Assistant Governor and Head of Operations, Mr Mills will replace Deputy Governor Geoff Bascand, who will take up the Head of Financial Stability role on 27 September, when Grant Spencer becomes Acting Governor...

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Inflation targeting practices similar across central banks

Release date 16 August 2017 Inflation targeting practises are similar across many central banks despite significant differences in their formal frameworks, says the Reserve Bank in its latest Bulletin article published today. The Bulletin article titled “An international comparison of inflation targeting frameworks” looks at how New Zealand’s Policy Targets Agreement compares to nine other advanced economy central banks, and how the specifications in each...

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New release video series for Money Week 2017

Release date 14 August 2017 To support Money Week 2017, the Reserve Bank and the Commission for Financial Capability have collaborated in a series of videos to encourage people to better manage their debt and talk more freely about their finances. The videos focus on this year’s Money Week theme of ‘debt’. The videos feature some of the families associated with our banknotes and connects with other pioneering New Zealanders, and the Queen, who appear on our...

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Official Cash Rate unchanged at 1.75 percent

Release date 10 August 2017 Statement by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent. Global economic growth has become more broad-based in recent quarters.  However, inflation and wage outcomes remain subdued across the advanced economies, and challenges remain with on-going surplus capacity.  Bond yields are low, credit spreads have narrowed and equity prices are at record...

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Simple, conservative approach for prudential supervision

Release date 02 August 2017 The Reserve Bank aims to improve the effectiveness of its prudential regulation through a combination of simpler regulations and bolstering its supervisory activities. Deputy Governor Grant Spencer said in a speech to the Kanga News Capital Markets Conference today that the Bank is considering how it might improve its regulatory framework.  Two catalysts in this regard are the recent IMF Financial Sector Assessment Program (FSAP)...

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External expert reviews forecasting processes

Release date 28 July 2017 An external central banking expert has commended the Reserve Bank’s forecasting and monetary policy decision-making processes. As part of good practice peer review, the Bank regularly commissions reviews by external experts of its forecasting and monetary policy decision-making processes.  It has modified its processes over the years in light of their findings. Dr Philip Turner, former Deputy Head of the Monetary and Economic...

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What we do

Release date 26 July 2017 The Reserve Bank has released a new video explaining its three key roles: managing inflation; producing currency; and regulating banks, finance companies and insurers. Using three animated characters mixed with real life situations, the one minute video explores the Bank’s role in the NZ economy and financial system, giving the public a better understanding of what it does and why. The video is part of a series of animated videos...

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Looking at the Stars

Release date 26 July 2017 Understanding key trends in the economy is crucial for the Reserve Bank, even though the trends can only be estimated and never directly observed and measured. Assistant Governor and Head of Economics Dr John McDermott said today that three trends were particularly important: the neutral interest rate; potential output growth; and the equilibrium real exchange rate. “These trends are the anchors around which we aim to stabilise the...

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Bulletin article reviews outcomes of IMF’s Financial Sector Assessment Programme

Release date 20 July 2017 The Reserve Bank has released a Bulletin article reviewing the outcomes of the International Monetary Fund’s (IMF) latest Financial Sector Assessment Programme (FSAP) for New Zealand.  An FSAP is a comprehensive review of a country’s financial system against international standards, with a particular focus on the quality of financial sector regulation. The Bulletin article explains the considerable amount of preparatory work that the...

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