RBNZ begins wide-ranging review of cash
New Zealand’s central bank warns of potential harm caused by “retreat from cash”
The Reserve Bank of New Zealand is reviewing whether it needs new tools to require banks to provide cash services as part of a wide-ranging review.
“Falling cash use for everyday needs and the retreat from cash services by banks and retailers threaten financial and social inclusion for some,” said assistant governor Christian Hawkesby.
These trends could also “undermine the important role cash provides underpinning confidence in private money in bank accounts”, he added.
The RBNZ has issued a
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