New Zealand
RBNZ’s McDermott backs simple forecasts over fan charts
Reserve Bank of New Zealand assistant governor says a simple policy projection can provide clarity to overall ‘forecast story’ and the relationships between different macroeconomic variables
RBNZ policy to be set by ‘governing committee’
Reserve Bank of New Zealand’s four governors will make all its monetary and financial policy decisions in a new committee
New Zealand central bank publishes macro-prudential ‘tool-kit' consultation
Four new tools proposed by Reserve Bank of New Zealand; former RBNZ chief economist says implementation will take time, but anticipates an ‘announcement effect'
New Zealand finance minister proposes new central bank toolkit
Bill English says new tools would allow RBNZ to manage excesses in credit cycles; emphasises credibility will hinge on continued central bank independence
New Zealand Reserve Bank 'prepared to intervene' in FX markets - governor
Graeme Wheeler says currency is over-valued, and investors should know that the Kiwi is 'not a one-way bet'
NZ governor wants ‘stand out’ policy
Graeme Wheeler says New Zealand’s economic growth is dependent on its ability to introduce internationally attractive policy
NZ deputy wary of using risk weights to shackle house prices
Grant Spencer says other macro-prudential tools may be more appropriate to address the build-up of asset bubbles
RBNZ bulletin reports growth in currency, fall in counterfeits
Amount of currency in circulation rises 5% in the year to June 2012 as counterfeits fall to one part per million
New Zealand’s new capital standards at odds with Australia on ‘bail-in’
Reserve Bank of New Zealand’s new capital standards conform to Basel III requirements but concerns raised on how bail-in debt rules will tally with Australia
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small, say market participants
Reserve Bank of New Zealand annual report details foreign exchange losses
Reserve Bank of New Zealand annual report outlines 'sluggish' growth rates and foreign exchange losses, but predicts an increase in future economic activity
New governor signs revised policy target agreement in New Zealand
The Reserve Bank of New Zealand’s policy targets agreement will come into effect on the same day Graeme Wheeler takes over as governor; document includes "stronger focus" on financial stability
Reserve Bank of New Zealand official discusses banking culture
Don Abel says financial institutions’ survival hangs on their culture; the success of risk management depends on integrity
New Zealand’s Bollard reveals next move
Outgoing governor of the Reserve Bank of New Zealand announces his next job; leaves central bank after 10 years as chief
RBNZ appoints new head of financial markets
Reserve Bank of New Zealand announces commercial banker as new chief of financial markets department; takes up his position in September
New Zealand paper finds costs and benefits of stable funding requirement
Discussion paper examines effects of minimum stable funding ratios under Basel III; suggests ratio reduces credit expansion but amplifies pro-cyclical effects of wholesale funding spreads
Bollard sets out vision of ‘new world’ economy
Governor of the Reserve Bank of New Zealand warns shift of global economy in favour of emerging Asia brings both risks and benefits; says attitudes towards debt have become more cautious
RBNZ governor weighs impact of debt burden on growth
Alan Bollard says large accumulation of private debt prior to financial crisis contributing to a ‘tepid’ recovery; argues a rebalancing of the economy is still to come
New Zealand selects new central bank board member
Finance minister appoints academic as board member at the Reserve Bank of New Zealand; brings group to maximum capacity
Reserve Bank of New Zealand examines bank funding
Quarterly bulletin article considers relationship between official cash rate and cost of bank funding; finds funding costs relative to the OCR changed following financial crisis
New Zealand central bank publishes statement of intent
Statement emphasises commitment to price stability as “primary goal”; highlights need to adapt to macroeconomic environment in setting monetary and macro-prudential policy
New Zealand’s McDermott emphasises inflation targeting success
Reserve Bank of New Zealand assistant governor highlights success of central bank’s inflation targeting policy; says there is still room for improvement
Reserve Bank of New Zealand to release latest Basel III proposals
Deputy governor of Reserve Bank of New Zealand says central bank will shortly submit its latest Basel III proposals; continuing fears over global economy highlighted in Financial Stability Report
Reserve Bank of New Zealand’s Spencer outlines macro-prudential initiatives
New Zealand central bank deputy governor outlines macro-prudential policy initiatives and says the reserve bank expects to take the lead on implementation