RBNZ gets macro-prudential go-ahead

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The Reserve Bank of New Zealand (RBNZ) was today given the green light to implement macro-prudential policies and "increase the resilience of the domestic financial system" by the government's fiscal budget for 2013.

Finance minister Bill English signed a memorandum of understanding (MoU) with the central bank to ratify the macro-prudential policy framework that was first mooted in February and put out for consultation in March.

All four instruments outlined in the RBNZ's consultation have been

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