The bank manages monetary policy to maintain price stability, promotes the maintenance of a sound and efficient financial system and supplies New Zealand bank notes and coins.
The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 3.0 percent.
A new five-year Funding Agreement ratified by Parliament today ensures the Reserve Bank has resources for its existing and expanded roles, while reflecting tight control of underlying costs, Governor Alan Bollard said.
The Reserve Bank today released the June 2010 issue of the Reserve Bank of New Zealand Bulletin.