Momentum builds to end RBNZ dual mandate

Think-tank calls for abolishing deposit insurance and creating new prudential regulator

Reserve Bank of New Zealand, Wellington
Photo: Rachael King

A New Zealand think-tank has proposed scrapping the central bank’s employment mandate, regulatory role and deposit insurance programme.

Its recommendations come ahead of general elections in October. The largest opposition party, National, is also calling for the abolition of the employment mandate.

The RBNZ adopted the dual mandate in 2019, in agreement with the Labour party government. Polls suggest the October elections will end in defeat for Labour.

The New Zealand Initiative, a free

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