The Reserve Bank's 2013 – 2014 Annual Report (PDF 2MB) describes the Bank's role and efforts in sustaining economic recovery, Governor Graeme Wheeler said today.
Mr Wheeler said that the Reserve Bank affects New Zealanders' lives in a number of ways, including: providing the currency they use, making decisions on the Official Cash Rate that affect their borrowing costs and return on savings; as well as regulating the banks, finance companies and insurers that New Zealanders use.
"We are conscious that the community needs to be confident that we meet high standards. This Annual Report provides information on achievements in each of our statutory functions, and how we strive to be a high-performing small central bank," he said.
The Bank currently has three overarching goals including continuing to strengthen its performance, developing a more integrated approach to Bank policy, and improving Bank infrastructure − while reducing the organisation's risks.
Key developments in meeting these goals in the 2013-2014 year included:
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