New Zealand
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.
RBNZ report on supplementary tools
The Reserve Bank of New Zealand and the Treasury on Thursday 6 April released a joint report on possible additional instruments to supplement the role of interest rates in managing demand pressures and inflation.
Comment: Exposed currencies cause jitters
The Central Bank of Iceland raised interest rates by 75 basis points last week. The central bank is concerned over the possibility of further declines in the Icelandic krona, which has fallen 12% against the US dollar this year.
RBNZ's Orr on financial stability in New Zealand
In the speech 'Towards a framework for promoting financial stability in New Zealand' given on 22 March Adrian Orr of the RBNZ said the financial system is critical to the future growth of the New Zealand economy.
Reserve Bank of New Zealand - Annual Report 2005
According to the Reserve Bank of New Zealand - Annual Report 2005, during the year, inflation pressures remained stronger for longer than expected.
RBNZ Monetary Policy Statement, March 2006
The Reserve Bank of New Zealand published its March 2006 Monetary Policy Statement on 9 March. The report said that economic indicators are now clearly signalling a slowdown, following New Zealand's longest economic expansion in 30 years.
RBNZ leaves OCR unchanged at 7.25 per cent
The Reserve Bank of New Zealand announced on Thursday 9 March that its Official Cash Rate (OCR) will remain on hold at 7.25 per cent.
Comment: Busy week for policymakers
This week is a busy one for monetary policymakers, with policy meetings taking place in Japan, the United Kingdom, Canada, Australia, New Zealand and Indonesia. Here is a brief look at what's been on the mind of central bankers in these countries.
New Zealand's new coins introduced on 31 July
The Reserve Bank of New Zealand announced on Monday 20 February that New Zealand's new 50, 20 and 10 cent coins will be introduced on 31 July 2006.
RBNZ to raise Settlement Cash Level to $2,000m
The Reserve Bank of New Zealand will raise the Settlement Cash Level (SCL) from its current level of $500 million to $2,000 million, for value date 13 February 2006.
RBNZ to raise settlement cash level temporarily
The Reserve Bank of New Zealand will temporarily raise the Settlement Cash Level (SCL) from its current level of $20 million to $500 million, for value date 2 February 2006.
RBNZ's Bollard on major global developments
In the speech 'Major global developments in the new millennium' given on 27 January Alan Bollard of the RBNZ said New Zealand has been growing strongly over the last decade, driven by improved efficiency, high participation and stronger terms of trade.
RBNZ holds OCR unchanged at 7.25 per cent
The Reserve Bank of New Zealand announced on Thursday 26 January that the Official Cash Rate (OCR) will remain unchanged at 7.25 per cent.
Inflation targeting: the New Zealand experience
The Reserve Bank of New Zealand released a paper 'Inflation Targeting: the New Zealand Experience and Some Lessons' on Wednesday 18 January , by Dr Alan Bollard and Ozer Karagedikli, which was presented to a conference hosted by the Central Bank of the…