New Zealand slashes funding to central bank by 25%
Some of RBNZ’s non-legislative functions “appear overstaffed”, says finance minister
New Zealand’s central bank will receive NZ$750 million (US$444 million) for its operating expenditure over the next five years, amounting to three-quarters of its current budget.
In a statement published on April 16, the Treasury announced that it would reduce the budgeted operating expenses for the Reserve Bank of New Zealand (RBNZ) by around 25%. The new five-year agreement, effective from July 2025 to June 2030, comprises an operating expenditure budget of NZ$750 million and a capital
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