19 December 2000

December 2000 Reserve Bank Bulletin released

The Reserve Bank released today the December 2000 issue of the Reserve Bank of New Zealand Bulletin. It includes two articles and two speeches.

The articles address aspects of two of the Reserve Bank's lesser-known functions: its role in the payment system and its international liaison role.

The first article, Recent developments in the payment system, outlines a number of developments that are occurring in the New Zealand payment system, putting these into the context of wider, international payment system developments. It sets out the Reserve Bank's policy objectives for the payment system and discusses how these objectives sit within the context of international payment system principles. The article also discusses the current infrastructure of the New Zealand payment system and recent changes to it.

The second article, APEC Finance Ministers' forum - role and work programme, discusses the objectives and functions of the Asia Pacific Economic Cooperation (APEC) Finance Ministers' forum. It notes that New Zealand co-chaired the Finance Ministers' process for much of 1999 and 2000 as part of its overall chairing of APEC in 1999. The article outlines the main elements on the Finance Ministers' work programme and how these interact with economic reform initiatives being advanced by other international bodies.

The two speeches are The fall of the New Zealand dollar: why has it happened, and what does it mean? and Institutional frameworks for inflation targeting.

To obtain copies of the Bulletin, contact the Reserve Bank's subscriptions section, phone 04 471 3697. The Bulletin can also be viewed on the Bank's website at www.rbnz.govt.nz.

For further information contact:
Lisa Weekes
Communications Officer
Phone 04 471 3767 or 025 497 418
Email weekesl@rbnz.govt.nz