Official Cash Rate to remain restrictive

The Monetary Policy Committee today agreed to keep the Official Cash Rate at 5.50 percent.

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New bank registered

The Reserve Bank of New Zealand today announced that JPMorgan Chase Bank NA has been registered as a bank in New Zealand.

JPMorgan Chase Bank NA is incorporated in New York and will operate as a branch in New Zealand. The bank intends to operate entirely in the wholesale markets in New Zealand, and will not provide retail banking services.

There are now 17 registered banks in New Zealand, which are listed on the Reserve Bank's website.

For further information contact
Anthea Black
Communications Adviser
Ph 04 471 3767, 021 222 5225, [email protected]