RBNZ reveals adjustments to ‘tight budgetary framework’

Reserve Bank of New Zealand

The Reserve Bank of New Zealand (RBNZ) axed 15 positions in preparation for a "tight budgetary framework", according to governor Graeme Wheeler, in its latest annual report, published today (September 28).

Over the next five years the RBNZ will have to keep a tight rein on its running costs, as its budget for operating expenses – excluding currency issuance – will increase by 1.3% each year on average.

This is dictated by the funding agreement the RBNZ has struck with the minister of finance. Ov

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