New Zealand
RBNZ paper on exchange rate stabilisation
The Reserve Bank of New Zealand Working Paper "How costly is exchange rate stabilisation for an inflation targeter? The case of Australia" quantifies the costs of mitigating exchange rate volatility within the context of a flexible inflation targeting…
IMF to appoint Jonathan Palmer to new CIO role
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), announced Wednesday 26 July his intention to appoint Jonathan Palmer as Chief Information Officer (CIO) of the IMF and Associate Director of the Fund's Technology and General…
RBNZ leaves OCR unchanged at 7.25 per cent
The Reserve Bank of New Zealand announced Thursday 27 July that the Official Cash Rate (OCR) will remain unchanged at 7.25 per cent. Reserve bank governor Alan Bollard said: "Recent economic developments have been broadly in line with our June Monetary…
Changes to RBNZ's Bond Lending Facility
In consultation with the New Zealand Debt Management Office, The Reserve Bank of New Zealand announced Friday 21 July that, as from Monday, it will make the following changes to its Bond Lending Facility.
Bollard on agriculture, monetary policy, economy
In the speech 'Agriculture, monetary policy and the economy' given on 18 July Alan Bollard of the RBNZ said at the moment the New Zealand economy is moving into a rebalancing period.
RBNZ's Bollard on an independent monetary policy
In the speech 'Can NZ expect to carry out independent monetary policy?' given on 13 July Alan Bollard of the RBNZ said New Zealand can still carry out its own independent monetary policy effectively, even though it has had to work against strong global…
RBNZ countdown to smaller lighter coins
On 31 July the current 50, 20, and 10 cent coins will be replaced with smaller and lighter coins, and the 5 cent coin will begin to be phased out, the Reserve Bank of New Zealand said on Monday 10 July.
RBNZ issues Statement of Intent
The Reserve Bank of New Zealand released its Statement of Intent (SOI) for 2006-2009 on Wednesday 5 July. The SOI recognises increasing demands on the Bank's policy outputs in a changing economic environment.
RBNZ releases Explaining Currency booklet
The Reserve Bank of New Zealand on Monday 3 July released a third edition of its popular Explaining Currency booklet. The booklet takes readers through the history of New Zealand's currency, describes the banknote and coin designs, and how banknotes and…
Reserve Bank of New Zealand increase cash reserves
The Reserve Bank of New Zealand said on Friday 30 June it would increase the level of liquidity in the money market, but added that did not signal a change in monetary policy.
ECB's Trichet on economic and monetary issues
In the testimony given on 21 June Jean-Claude Trichet of the ECB said the insight that price stability is the primary goal for monetary policy has also been translated into the mandates of central banks of advanced economies and also of a very large…
Reserve Bank of New Zealand Bulletin, June 2006
The Reserve Bank of New Zealand published the June 2006 issue of its Bulletin on 14 June. With banks increasingly operating across geographical borders, a major issue for banking supervisors around the globe is how those banks should be supervised by…
RBNZ publishes history book
The Reserve Bank of New Zealand history book 'Innovation and Independence: the Reserve Bank of New Zealand 1973-2002', was published by Auckland University Press on Monday 12 June.
Comment: Rates on the up
Monetary policymakers from Mumbia to Madrid to Pretoria stepped firmly on the monetary brakes yesterday, with no less than six central banks hiking rates.
RBNZ Monetary Policy Statement, June 2006
The Reserve Bank of New Zealand published its June 2006 Monetary Policy Statement on 8 June. The report said that recent economic activity has been weaker than projected in the March Monetary Policy Statement. However, the short-term inflation outlook…
Comment: In defence of inflation targeting
Writing in the Financial Times this week, Wolfgang Munchau suggests that the "end of inflation targeting is in sight". Munchau points to the shortcomings of the Swedish inflation targeting regime, and draws universal lessons from it. A number of…
Rybinski on inflation targeting, challenges ahead
In the speech 'Inflation targeting and the challenges ahead' given on 18 May Krzysztof Rybinski of the National Bank of Poland said that since 1990, when the pioneering Reserve Bank of New Zealand first introduced inflation targeting, over twenty…
New Zealand hosts EMEAP central bank governors
Central bank governors from major countries in the region gathered in New Zealand over the weekend to discuss common issues, Reserve Bank of New Zealand governor Alan Bollard said Monday 29 May.
RBNZ Financial Stability Report, May 2006
The Reserve Bank of New Zealand published its May 2006 Financial Stability Report on 19 May. RBNZ governor Alan Bollard said that New Zealand's financial system is well placed to weather the slowdown in the economy.
Comment: Emerging market jitters
Emerging markets equities, bonds and currencies have been under severe pressure over the last two weeks. The turning tide will leave a number of central banks uncomfortable, particularly as the favourable conditions of the last 2 and 3 years has actually…
Interview with RBNZ's Alan Bollard
In comments published on Tuesday 16 May, Reserve Bank of New Zealand governor Alan Bollard said he aims to ensure a soft landing for the economy while keeping inflation in check.
RBNZ leaves OCR unchanged at 7.25 per cent
The Reserve Bank of New Zealand announced on Thursday 27 April that the Official Cash Rate (OCR) will remain at 7.25 per cent.
Reserve Bank of New Zealand Bulletin, March 2006
The Reserve Bank of New Zealand has published the March 2006 issue of its Bulletin. The latest issue includes the article 'Changes in the inflation process in New Zealand'.
Orr on bank capital, risk management & the economy
In the speech 'Bank capital, risk management and the economy' given on 10 April Adrian Orr of the RBNZ said the Reserve Bank is working intensively on the implementation of the new international framework for bank capital adequacy, known as Basel II.