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Reserve Bank of New Zealand News Releases
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Bank of China registered as a bank

Release date 29 March 2018 The Reserve Bank today registered Bank of China to provide banking services in New Zealand. Bank of China Limited is incorporated in the People’s Republic of China and will operate in New Zealand as a branch. A New Zealand subsidiary of the Bank of China, Bank of China (New Zealand) Limited, has been registered to provide banking services in New Zealand since November 2014. There are now 26 registered banks in New Zealand. View the...

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New PTA requires Reserve Bank to consider employment alongside price stability mandate

Finance Minister Grant Robertson and incoming Reserve Bank Governor Adrian Orr today signed a new Policy Targets Agreement (PTA) setting out specific targets for maintaining price stability and a requirement for employment outcomes to be considered in the conduct of monetary policy. The new PTA takes effect from 27 March 2018, when Adrian Orr starts his five-year term as Governor. The new PTA has to be signed under the existing provisions of the Reserve Bank Act 1989, which has price...

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An interview with Atif Mian of Princeton University

Release date 23 March 2018 An interview with university academic Atif Mian was published today in the Reserve Bank Bulletin. Professor Mian was interviewed by Reserve Bank economists Özer Karagedikli and Anella Munro during a visit to the Reserve Bank of New Zealand in December 2017. In the wide-ranging interview, Prof. Mian discusses why he entered economics, the effects of the Global Financial Crisis, why he does not consider the world has recovered from it,...

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Official Cash Rate unchanged at 1.75 percent

Release date 22 March 2018 Statement by Reserve Bank Governor Grant Spencer: The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent. The outlook for global growth continues to gradually improve. While global inflation remains subdued, there are some signs of emerging pressures. Commodity prices have continued to increase and agricultural prices are picking up. Equity markets have been strong, although volatility has increased....

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RBNZ Governor supports macro-prudential policy

Release date 13 March 2018 “Macro-prudential policy has been particularly useful in the current environment of globally low interest rates, where monetary policy has been unable to counter the strong housing cycle of recent years,” Reserve Bank Governor Grant Spencer said today to an Auckland event hosted by INFINZ. In his speech, titled Getting the best out of macro-prudential policy, Mr Spencer said it was almost five years since macro-prudential policy...

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New appointment to Reserve Bank board

Release date 06 March 2018 News release issued by the Minister of Finance Dr Chris Eichbaum has been appointed to the Board of the Reserve Bank of New Zealand, Finance Minister Grant Robertson says. Dr Eichbaum is currently a Reader in Government at the Victoria University School of Government and Associate Dean in the Victoria University Business School. He holds a Doctor of Philosophy in Public Policy and has published on topics including public policy...

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CBL Insurance Limited interim liquidation

Release date 01 March 2018 The High Court appointed interim liquidators to CBL Insurance Limited on Friday last week and issued an order prohibiting publication of information about the matter. The High Court lifted the prohibition today, enabling the Reserve Bank to state the reasons for its actions. Deputy Governor and Head of Financial Stability, Geoff Bascand, says the Reserve Bank asked the High Court to appoint interim liquidators to CBL Insurance after...

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Disclosure a cornerstone, says Reserve Bank

Release date 28 February 2018 Public disclosure is a cornerstone of the Reserve Bank’s approach to prudential regulation and supervision. Deputy Governor Geoff Bascand said in a speech today to members of the NZ Bankers’ Association that there are three pillars to the Reserve Bank’s regulatory framework: self-discipline, market discipline, and regulatory discipline. “Timely disclosure of accurate information is an essential part of market discipline, and it...

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New statistics on the insurance sector

Release date 27 February 2018 The Reserve Bank has today begun publishing new quarterly statistics that will provide insights into the structure and activities of the insurance industry. The newly published statistics provide aggregated financial data provided by licensed insurers. Head of Macro Financial Stability, Bernard Hodgetts, said that new statistics will help provide insights into the insurance industry’s financial performance and position in New...

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