Central bank of the year: Reserve Bank of New Zealand


Central banks pursuing inflation targets have faced something of an existential crisis since the advent of the global financial crisis. The received wisdom that an operationally independent central bank pursuing an inflation-targeting regime would achieve an optimal outcome for the financial, economic and monetary system was thrown into doubt as central bank policies around the world failed to address serious economic imbalances pre-crisis.

As a result, new financial regulation and macro

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