The Reserve Bank and macro-financial stability

Release date
Vol. 73. No. 2. June 2010
Grant Spencer
This article describes the evolving macro-financial stability (MFS) function of the Reserve Bank and discusses the appropriate framework for the function in light of the global financial crisis (GFC). Areas where further analysis and research will be needed are highlighted. The article begins by discussing the evolving international context before explaining the Reserve Bank of New Zealand’s macro-financial stability function. Governance issues are also addressed.