The People's Bank of China (PBOC) and the Reserve Bank of New Zealand today announced the renewal of a reciprocal currency arrangement (swap line) to support the settlement of cross border transactions between New Zealand and Chinese businesses.
The Reserve Bank of New Zealand hosted the 22nd annual Executives' Meeting of East and Asia-Pacific (EMEAP) central banks in Auckland yesterday.
Forecasting is a valuable part of the monetary policy process, helping the Bank plan for the future, communicate its current understanding and intentions, and react to unexpected events, Reserve Bank Assistant Governor and Head of Economics Dr John McDermott said today.
The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent.
The International Monetary Fund (IMF) has declared New Zealand’s banking system to be resilient, but nevertheless recommended ways to improve the strength of the country’s financial sector and the regulatory framework.