Reserve Bank of New Zealand (RBNZ)
Wheeler says further easing may be needed as RBNZ holds
Wheeler says interest rate cuts could be needed, though the RBNZ kept its key rate at 2.25% today; mixed picture with dairy export prices improving but currency still high
RBNZ signs up SIA to deliver RTGS replacement
Its subsidiary, Perago, will deliver payments infrastructure for New Zealand via “off-the-shelf” system used by Riksbank and Norges Bank
Embargoed lock-ups scrapped after RBNZ confirms leak
Report says a journalist leaked the March 10 cut to colleagues; Reserve Bank of New Zealand ends practice of allowing media and analysts advance access to rate decisions and major reports
New Zealand launches remaining banknotes in new series
Final three denominations will circulate from May 16; central bank creates interactive website allowing users to manipulate new notes and get acquainted with security and design features
RBNZ proposes new powers over FMIs in times of crisis
Final crisis management plan proposal details two-tiered framework for FMIs; RBNZ and FMA would act if contingency plans not up to scratch
RBNZ investigating possible leak
Central bank launches external investigation, after former RBNZ economist was told there would be an unexpected rate cut before the decision was made public
Tests find New Zealand banks ‘robust’ to dairy stress
Stress tests conducted by the Reserve Bank of New Zealand in late 2015 find five largest lenders to dairy sector can withstand further drops in payout and land values
Research sheds light on RBNZ concerns over inflation expectations
Article authored by, among others, John McDermott argues the risk of inflation expectations losing their anchor has increased; concerns were a ‘primary motive’ for last week’s rate cut
RBNZ keeps settlement system due to lack of suitable bids
The Reserve Bank of New Zealand will retain its securities settlement system and depository, despite hoping to find it a new owner; also investing in separate platforms for NZClear and Esas
RBNZ’s Gordon offers advice on building a sound risk management system
Former risk head at RBNZ offers advice on what should be the focus for central banks looking to build an enterprise risk management system
RBNZ tweaks forecasting models and cuts key rate
Reserve Bank of New Zealand cuts rates by 25bp to 2.25% in attempt to prevent inflation expectations from falling further; updates models in wake of optimistic forecasts
Christchurch recovering after quake, RBNZ paper finds
Economy proves ‘resilient’ to earthquake as rebuild continues; uncertainty around the timeline puts off businesses from investing in the region
NZ has ample space to respond to risks – IMF staff
An International Monetary Fund staff report says there is room to ease monetary policy further if need be, while authorities should prepare more prudential measures
Market discipline ‘key pillar’ of RBNZ toolkit, article says
Article in latest Reserve Bank of New Zealand bulletin insists new requirements have not come at the expense of market discipline – they are both ‘key pillars’ of regulatory toolkit
RBNZ holds but hints at future easing as outlook worsens
New Zealand dollar reaches four-month low as Reserve Bank of New Zealand hints at prolonged inflation battle
Initiative of the year: Reserve Bank of New Zealand
The Reserve Bank of New Zealand’s enterprise risk management system offers a best-practice example of how to build a framework from the ground up, with a small team and limited resources
New Zealand economists stress-test dairy sector
An article published by the Reserve Bank of New Zealand finds banking system losses would still be ‘manageable’ under the worst-case scenario for milk prices and farm values
RBNZ cuts rates for fourth time this year
Central bank resumes easing policy and lowers OCR by 25bp to 2.5%; expects inflation to move towards target range in early 2016
RBNZ: Auckland housing risks have increased
New Zealand central bank warns Chinese slowdown could affect banks' funding costs as house prices-to-income ratios rise to record highs; effect of macro-pru rules ‘too early to judge'
Inflation outcomes should not be sole criteria for judging performance, says RBNZ's McDermott
Assistant governor's comments come after policy reversal by RBNZ amid falling global commodity prices; staff article emphasises 'ex-ante' evaluation of monetary policy decisions
Communication and education the answer to transparency 'paradox', says RBNZ's Hannah
Mike Hannah discusses the findings of the Reserve Bank of New Zealand's first external stakeholder engagement survey and their implications for central bank comms
RBNZ governor reiterates further easing ‘seems likely’
Graeme Wheeler says the central bank is ‘conscious’ of the impact low rates can have on housing demand; RBNZ has cut OCR by 75bp since June
RBNZ reveals adjustments to ‘tight budgetary framework’
Central bank cuts 15 positions in preparation for new funding agreement; talk of an ‘offshore office’ put on ice last year as operating expenses ran over budget
RBNZ cuts OCR again in face of ‘softening’
Graeme Wheeler reiterates ‘some further easing in the OCR seems likely’ as he reveals the third consecutive rate cut; RBNZ notes importance of Chinese demand to commodity prices