Reserve Bank of New Zealand Bulletin, Dec 2004

The Reserve Bank of New Zealand has published the December 2004 issue of its Bulletin. An article in the latest issue reports on recent work examining foreign exchange hedging practices by New Zealand exporters and importers. A second article provides a comprehensive discussion of the Bank's liquidity management function and describes the tools currently used to carry it out.

Liquidity management plays an important role in helping to maintain the stability of the banking system and in supporting

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