The Reserve Bank of New Zealand's three main functions are: operating monetary policy to maintain price stability; promoting the maintenance of a sound and efficient financial system; and meeting the currency needs of the public.
The Reserve Bank of New Zealand Financial Stability Report was released on 7 May 2008.
OFFICIAL CASH RATE
INFLATION
In the coming weeks, New Zealand banks will release quarterly disclosure statements which will reflect the Reserve Bank’s new Basel II capital adequacy requirements for the first time.
New Zealand’s financial system has so far withstood a severe test of global financial markets, but it would be prudent to ensure there is adequate liquidity in case disruptions intensify, Reserve Bank Governor Alan Bollard said today, when releasing the Bank’s May 2008 Financial Stability Report. The media conference is now available by webcast.
The Reserve Bank today announced that it is adopting measures to ensure there is sufficient liquidity in the banking system in the event of further international financial market turbulence.
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