New Zealand government boosts central bank capital

RBNZ granted capital boost and indemnity

Photo: Rachael King

New Zealand’s government has provided the central bank with more capital and an indemnity, bolstering its ability to intervene in the foreign exchange market when needed.

Finance minister Grant Robertson decided to inject NZ$500 million ($305 million) into the Reserve Bank of New Zealand (RBNZ) following recommendations from the Treasury, according to a report dated May 19.

The report, made public last week, said the injection would take place on or shortly after July 1.

“The bank’s current

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