I decided to apply for the internship because I wanted to get a deeper understanding of the role central banks play in running the economy, especially in a post-GFC world. Other than that, I knew some past interns who spoke highly about their time at the Bank and encouraged me to apply.
I spent the summer in the Statistics Unit, in the Macro Financial Department. My intern project was based on the G20 Data Gaps Initiative, specifically the development of a database for New Zealand securities. I focused on the New Zealand equity securities market by conducting a pilot study for an equities database. I summarised my findings through a report on the sectoral holdings of NZX-listed equities.
During my time at the Bank, I attended a 2-day workshop on the housing market which boasted speakers from many reputable universities and central banks. In addition, my team and I went to volunteer at the Wellington City Mission. As a member of the Cake Club, I also enjoyed some high-tea at regular bank get-togethers. The wide array of activities at the bank really surprised me; almost every week we had some social activity or presentations from researchers and economists from around the world.
My team at the Bank has been pretty amazing! In addition, my project was perfect for combining my interests in Statistics and Finance. It helped improve my technical skills while teaching me a lot about the New Zealand equity securities market.
The Reserve Bank of New Zealand is one of the best small central banks in the world, filled with extremely smart people who are very passionate about their jobs. Each department will give you a unique insight into the many aspects of making an economy work. In addition, the people at the Bank are all genuinely nice and went above and beyond to make the interns feel welcome. On top of that, Wellington with its lively culture is the ideal place to spend the summer.