RBNZ strikes new funding deal with government
Funding agreement features small increase in core operating expenditure
The Reserve Bank of New Zealand (RBNZ) has unveiled a new funding agreement for the next five years that will see it spend NZ$72.2 million ($51.4 million) on currency issuance as it rolls out its 'Brighter Money' series.
The central bank's core operating expenditure will increase from NZ$49 million in 2014–2015 to NZ$49.6 million in 2015–16, gradually increasing over the rest of the decade to $52.1 million in 2019–2020.
"The funding agreement ensures that the Bank has sufficient resources to
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