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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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Kaitiakitanga: Te Ao Māori o Te Pūtea Matua – Guardianship: The Māori World View of the Reserve Bank

Release date 14 February 2020 Building its understanding of Te Ao Māori will result in the Reserve Bank better serving Aotearoa New Zealand, said Assistant Governor, Christian Hawkesby. Speaking at the Mana Taiao Raising Māori Investment Capability conference in Tauranga yesterday, Mr Hawkesby outlined how the Reserve Bank – Te Pūtea Matua – was building and integrating a Māori world view, through cultural capability, policy and engagement. “We are New Zealand’s...

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Official Cash Rate remains at 1.0 percent

Tēnā koutou katoa, welcome all. The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. Low interest rates remain necessary to keep employment and inflation around target. Economic growth is expected to accelerate over the second half of 2020 driven by monetary and fiscal stimulus, and the high terms...

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Reserve Bank launches streamlined whistleblowing policy

Release date 10 February 2020 The Reserve Bank of New Zealand (RBNZ) has streamlined its external whistleblowing policy for those employed by regulated entities. Individuals currently or formerly employed by insurers, banks or non-bank deposit takers regulated by the Reserve Bank, who have witnessed or become aware of misconduct within their organisation, can now report this directly to the Reserve Bank via a designated email address and phone number....

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MPS OCR and FSR dates for 2021

Release date 07 February 2020 The Reserve Bank today announced the 2021 dates for releasing its quarterly Monetary Policy Statements (MPS), Official Cash Rate (OCR) decisions, and the six-monthly Financial Stability Reports (FSR). The release dates for 2020 remain unchanged. From 2021, the Bank is adopting a new rule for the release dates of MPS and OCR decisions, which includes some flexibility to shift the date in case of conflicts with other important releases...

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RBNZ Monetary Policy Handbook internationally recognised for transparency

Release date 07 February 2020 The Reserve Bank of New Zealand has won the ‘Transparency Award’ at the Central Banking Publications annual awards for its work on the Monetary Policy Handbook. Reserve Bank Governor Adrian Orr said it was a great honour to receive this year’s Central Banking Transparency Award. “We want to be a ‘Great Team, Best Central Bank’ and transparency plays a crucial part to get there. This award recognises our efforts to bringing a higher...

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The Global Economy and New Zealand

Release date 29 January 2020 Understanding the impact of the global economy and its effects on New Zealand are critical to the Reserve Bank when it considers Monetary Policy. In a speech today to the Goldman Sachs Annual Global Macro Conference in Sydney, Reserve Bank Assistant Governor Christian Hawkesby set out the framework the Bank used to analyse the global economy and its influence on New Zealand. “Using a simple framework with trade, financial, and...

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Interest rate benchmark reform

Release date 28 January 2020 The Reserve Bank of New Zealand supports the selection of the Official Cash Rate (OCR) as New Zealand’s fall-back benchmark interest rate. “Global interest rate benchmarks, such as LIBOR, play a substantial role in the valuation of financial derivatives and contracts,” Assistant Governor/GM Economics, Financial Markets and Banking Christian Hawkesby says. “Reforms are underway internationally to improve the integrity of these...

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Life insurance sector explored in latest Bulletin article

Release date 22 January 2020 The aggregate solvency ratio of New Zealand’s life insurance sector has declined in recent years, raising questions about the ability of some insurers to cope in the event of an adverse shock. These factors and more are explored in the Reserve Bank’s latest Bulletin article by Financial System Analyst Jinny Leong. Life insurance coverage softens the financial impact of events such as death, disablement and major illness, allowing...

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