New Zealand
RBNZ's Bollard on supervising foreign-owned banks
In a speech on 'Being a responsible host: Supervising foreign-owned banks' given on 2 October, Alan Bollard of the RBNZ outlined the particular challenges increasingly facing countries with banking systems dominated by foreign banks. He also discussed…
RBNZ increases OCR to 6.25 per cent
The Reserve Bank of New Zealand has increased the Official Cash Rate from 6.00 per cent to 6.25 per cent. The RBNZ said that further tightening of monetary policy is likely to be required.
NZ's Cullen apologises for interest rate 'slip'
Finance Minister Michael Cullen has apologised after saying that the Reserve Bank of New Zealand had raised its key interest rate "today" - the RBNZ is due to meet on Thursday 9 September to decide monetary policy.
NZ's Bollard on the property sector
In the speech 'What's happening in the property sector?' given on 2 September, Alan Bollard of the RBNZ reminded investors in property - rural, industrial and commercial, and residential - that property markets are inherently subject to cycles and market…
RBNZ issues Statement of Intent
The Reserve Bank of New Zealand has made public a Statement of Intent which outlines the Bank's plans for the period 2004 to 2007. This Statement of Intent has been prepared as a pilot document for an accountability obligation that will be required of…
RBNZ's Bollard on supervising overseas-owned banks
In a speech on 'Supervising overseas-owned banks: New Zealand's experience' given on 11 August, Alan Bollard of the Reserve Bank of New Zealand said the Reserve Bank is "seeking to reinvigorate the regulatory arrangements for New Zealand's banking system…
RBNZ appoints Spencer assistant governor
The Reserve Bank of New Zealand announced on 4 August the appointment of Grant Spencer as Assistant Governor/Head of Economics.
RBNZ's Bollard defends rate rises
The governor of New Zealand's central bank, Alan Bollard, has defended lifting interest rates to the highest level in the developed world, citing pervasive capacity constraints and inflation pressures.
New Zealand's OCR increased to 6 per cent
The Reserve Bank of New Zealand increased the Official Cash Rate from 5.75 per cent to 6.00 per cent on 29 July.
Central banking in New Zealand
The Reserve Bank of New Zealand has updated one of its brochures, entitled "Central Banking in New Zealand", which is a generic description of the Reserve Bank's functions and its governance arrangements.
Reserve Bank of New Zealand Bulletin, Jun 2004
The Reserve Bank of New Zealand has published its quarterly Bulletin for June 2004. The June issue contains articles spanning most of the Reserve Bank's core functions including "What drives the New Zealand dollar?". In addition, for the first time the…
RBNZ Monetary Policy Statement, June 2004
The Reserve Bank of New Zealand increased the Official Cash Rate from 5.5 to 5.75 per cent on 10 June. Speaking at the release of the Reserve Bank's June 2004 Monetary Policy Statement, Reserve Bank Governor Alan Bollard said "The New Zealand economy has…
Trans-Tasman currency to be discussed
Australia's high commissioner to New Zealand is promoting a common currency between the two countries as a way to advance the trans-Tasman relationship.
IMF urges better bank monitoring in NZ
The Reserve Bank of New Zealand's monitoring of banks may not give enough information "at the onset of a sudden crisis", according to the International Monetary Fund.
RBNZ increases interest rates to 5.5%
The Reserve Bank of New Zealand increased its Official Cash Rate from 5.25 per cent to 5.5 per cent on Thursday 29 April. RBNZ Governor Alan Bollard commented on the decision "The New Zealand economy continues to perform strongly and this is being…
RBNZ appoints Financial Market Operations Manager
The Reserve Bank of New Zealand announced the appointment of Mr Simon Tyler to the new post of Manager of Financial Market Operations on 6 April.
RBNZ paper on inflation targeting central banks
This RBNZ paper tests the standard quadratic approximation to central bank preferences on data from Australia and New Zealand, two of the earliest explicit inflation targeting countries.
Reserve Bank of New Zealand Bulletin, Mar 2004
The Reserve Bank of New Zealand has published its quarterly Bulletin for March 2004. The March issue contains three articles and a speech given by Reserve Bank Governor Alan Bollard earlier this year on asset prices and monetary policy.
RBNZ foreign exchange intervention principles
The Reserve Bank of New Zealand on 30 March released a letter from the Bank to the Minister of Finance outlining how it intends to undertake foreign exchange market interventions.
New Zealand cb's reserves boosted
The Reserve Bank of New Zealand will receive an extra NZ$1.9 billion (US$1.2 billion) in foreign exchange "for the purpose of stabilising the foreign exchange market in a period of, or to avoid, market dysfunction," Michael Cullen, the finance minister,…
RBNZ Head of Operations appointed
The Reserve Bank of New Zealand announced on Wednesday March 24 the appointment of Dr Don Abel as the Bank's Assistant Governor and Head of Operations.
RBNZ's Orr on exchange rate intervention proposal
In a speech on the Reserve Bank of New Zealand's exchange rate intervention proposal given on 25 March, Adrian Orr of the RBNZ said that what the RBNZ is recommending is intervening when the moment is justified and opportune, with the outcome of trimming…
Ticking clock sees RBNZ evacuated
The Reserve Bank of New Zealand was evacuated on Thursday 18 March after a ticking parcel was found on the 10th floor of the building in Wellington.
Brash unimpressed with RBNZ's plans
Former RBNZ chief Don Brash said this week that while the high value of the New Zealand dollar was hurting the economy, any attempt to intervene would be fraught with risk.