New Zealand
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
Cash for a very rainy, tremorous or lava-filled day
Are central banks well-positioned to keep cash flowing during natural disasters?
RBNZ halts tightening cycle
Central bank says policy rate will need to remain at a “restrictive” level for some time
New Zealand sets up its first deposit insurance scheme
RBNZ will run levy-funded scheme, which is set to become operational in 2024
New Zealand rejects RBNZ’s call for single price-stability goal
Updated central bank remit retains twin goals of price stability and maximum sustainable employment
Legislation is needed for future-reliable cash infrastructure
Dutch finance ministry’s recognition of cash’s “very important” role in payments and financial system functioning is crucial to safeguarding access and acceptance, says Martina Horakova
RBNZ raises rates to peak level
Central bank predicts rates will come down slightly faster than in February forecast
Book notes: Money and the rule of law, by Peter Boettke, Alexander Salter and Daniel Smith
A largely US-focused book, which hankers for more robust rules for central banks but isn’t explicit as to what kind
Demand for better homes fuels unsustainable house prices – RBNZ study
Researchers say higher interest rates can reduce demand for better quality homes
RBNZ surprises with 50bp rate hike
Damage from cyclone threatens to keep inflation expectations higher
Marks (and sizes and colours) of distinction
Many central banks make an effort to make cash accessible to blind and partially sighted users
RBNZ raises rates as cyclone complicates outlook
“Devastating” impact of Cyclone Gabrielle creates economic disruption and prompts fiscal action
Currency round-up: Charles III causes controversy
Australian government drove decision to drop UK monarch from notes, as ECCB weighs its options
New Zealand opposition leader says he would end dual mandate
National Party chief says he will drop employment target and tell RBNZ to concentrate on inflation
RBNZ to expand FX reserves
Bigger economy and markets demand larger pool of reserves, central bank says
Eight key elements to managing a central bank
Former governor Peter Nicholl describes eight critical lessons he learned while developing governance and capacity of the Central Bank of Bosnia and Herzegovina
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…
Banknotes: October to December 2022
A round-up of news and salient issues that have affected central bankers in the past three months
People: October to December 2022
A round-up of central bankers in the news and on the move during the past three months
RBNZ delivers record 75bp rate rise to curb inflation
Central bank now expects policy rate to peak at 5.5% next year, up from previous estimate of 4.1%
RBNZ review says monetary tightening could have started earlier
Review endorses RBNZ’s pandemic measures, and calls for more attention to supply shocks
Orr gets second term as RBNZ governor
Government praises Orr's record, but opposition party says it is “appalled”
New Zealand central bank suggests change to mandate
RBNZ says mandate could prioritise price stability and drop housing requirement