Reserve Bank of New Zealand (RBNZ)
Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate in the birthplace of inflation targeting; government reveals more details on changes to decision-making structure
Yield curve can help improve forecasts – RBNZ economists
Yield curve information tends to improve forecasts of economic activity, researchers find
Macro-prudential measures should be made to last – RBNZ’s Spencer
Outgoing governor wants temporary framework for loan-to-value ratios to stay; says debt-to-income instrument should also be part of toolkit
People: ECB clears way for de Guindos
Governing council says it has “no objection” to the Spanish candidate; Bank of England’s David Thorburn resigns; RBNZ gains a board member
RBNZ paper investigates weaker pass-through since 2008
Banks’ use of more stable funding sources seems to have weakened the effect of policy rate changes since 2008
RBNZ deputy governor calls for move to ‘dual reporting’
“Sometimes unclear” how banks reach their risk weightings, Bascand says
Experts’ panel appointed for RBNZ mandate review
A panel of three external experts will provide a report to the Minister of Finance; group will hold its first meeting later this month
Quick action needed to tackle housing busts – RBNZ paper
Paper studies housing busts around the world and how best to respond to them
Adrian Orr to lead RBNZ in 2018
Former deputy takes over at a time when the central bank mandate is being called into question; Grant Spencer sets sights on retirement
David Mayes: 1946–2017
The internationally minded professor was a stalwart of the central banking community
More easing next year if inflation does not pick up – RBNZ
Global supply chains, the rise of China and the digital economy led to a low traded-goods inflation
RBNZ eases housing market restrictions
New government’s policies should “dampen” housing market pressures, acting governor says
Banks hit back at RBNZ macro-prudential proposal
RBNZ’s proposed debt-to-income limits criticised by commercial banks, which question methodology and claim measure would increase financial instability
RBNZ seeks liquidity and stability with new mortgage bond standard
New Zealand central bank hopes standard will support market liquidity and improve its own risk position
RBNZ cracks down on Westpac over modelling breach
Central bank imposes capital penalty after uncovering failings related to use of internal models
Doubts emerge over RBNZ mandate plans
Acting governor Spencer says a dual mandate would have little impact, but expresses concern over a committee structure; former RBNZ economists weigh in
Tinkering with rates will not bolster New Zealand employment
The New Zealand government would do well to remember why a single price stability mandate was established in the first place
RBNZ faces mandate review under new government
Coalition agreement retains Labour pledge to consider shake-up of Reserve Bank mandate
Banks ‘still groping toward’ macro-pru transparency – Eichengreen
Central bank governance expert says central bank transparency is getting better around the world, although New Zealand, Argentina and some Central American institutions could make improvements
RBNZ proposes tougher rules for bank outsourcing
Banks must show they can open at 9am the day after entering resolution; foreign-owned banks need to supply separation plans
Graeme Wheeler: LVR restrictions seem to be working
RBNZ governor looks back over five turbulent years; says housing market restrictions have reduced systemic risk and the market seems to be cooling
People: RBNZ continues reshuffle; Fed appoints payments leader
Mills to fill Bascand’s shoes at RBNZ as assistant governor moves to financial stability; St Louis Fed vice-president to initiate faster payments project for the US central bank; and more
RBNZ to stick with ‘simple-yet-conservative’ regulation, says Spencer
Financial stability head acknowledges there could be risks to deviating too far from global norms, but says New Zealand prefers to keep regulations strict and simple
Philip Turner urges RBNZ to focus analysis on ‘new normal’
Former BIS official gives positive review of RBNZ’s monetary policymaking process, but recommends the central bank focus its efforts on understanding changing economic structure