New Zealand
Poor Don Brash splattered with mud
Don Brash planned to take his message direct to the people after recent problems saw him accused of "Maori bashing". But all was not plain sailing for the former RBNZ chief.
Wounded Bosnia heals with NZ money policy
Want evidence that New Zealand's general approach to monetary policy works whatever the environment? In this article Peter Nicholl, governor of the central bank of Bosnia, says a main ingredient of good central bank law is operational independence and…
Brash fires Maori MP who criticised his speech
Last week we reported New Zealand National Party Maori MP Georgina te Heuheu's criticism of "Maori bashing" in a speech made by the party's leader, and former governor of the RBNZ, Don Brash. But Brash defended his speech and this week fired the MP.
Waring begins RNBZ role
With a Christmas delivery of bulk reports and background material, Professor Marilyn Waring has unofficially started her appointment to the board of the Reserve Bank of New Zealand, reported Massey University's 'Massey News'.
RBNZ prepared to constrain asset bubbles
The Reserve Bank of New Zealand revealed on Friday 30 January that in rare circumstance it is prepared to adjust monetary policy to constrain extreme asset price bubbles, whereas normally the Reserve Bank is only required to ensure consumer price…
RBNZ's Bollard on asset prices and monetary policy
In a speech on 'Asset prices and Monetary Policy' given on 30 January, Alan Bollard of the Reserve Bank of New Zealand said he would be willing to use monetary policy "to constrain extreme asset price bubbles," but that the current situation with housing…
Brash speech criticised by Maori MP
Former Reserve Bank of New Zealand governor Don Brash, now leader of the National Party, has been criticised by Georgina te Heuheu, the party's only Maori MP, for a speech she described as "Maori bashing".
RBNZ raises rates citing 'impressive' growth
The Reserve Bank of New Zealand increased interest rates on Thursday 29 January, citing the pressure on resources including the labour market after two years of "impressive" growth. The bank raised the official cash rate 25 basis points to 5.25 per cent.
Reserve Bank of New Zealand Bulletin, Dec 2003
The Reserve Bank of New Zealand has published its quarterly Bulletin for December 2003. The December issue of the Bulletin contains three articles, and two speeches delivered over recent months by the Bank's Governor.
RBNZ mulls ANZ takeover
ANZ Banking Group has until Christmas to convince New Zealand's reserve bank about its plans for taking over the National Bank. Following the passage of a new Reserve Bank Act in August, the RBNZ must approve large-bank mergers in New Zealand.
NZ's Bollard's good cheer Christmas cards
Following on from his Goldilocks Christmas card last year, Alan Bollard has continued his seasonal cheer this time around with a card showing Santa's sleigh flying over the Reserve Bank spilling money and with a large percentage sign symbolising the OCR,…
Waring appointed to RBNZ Board
New Zealand's finance minister Michael Cullen said on Thursday 18 December that Dr Marilyn Waring has been appointed to the Reserve Bank Board to replace Ruth Richardson whose term expires on 3 February. Waring is currently a Professor of Public Policy…
RBNZ leaves OCR unchanged
The Reserve Bank of New Zealand decided to leave the Official Cash Rate unchanged at 5.0 per cent on 4 November.
RBNZ appoints 'fresh' face to advisory role
The Reserve Bank of New Zealand has appointed Terry McFadgen as a part-time monetary policy advisor. The RBNZ employs two people as external advisors (the other advisor is Malcolm Bailey) to bring an outside perspective to decision making processes. The…
RBNZ's Bollard speaks on ANZ acquisition
The Reserve Bank of New Zealand released an excerpt from a speech by Reserve Bank Governor Alan Bollard on 6 November. It outlines the policy initiatives taken by the Reserve Bank in dealing with the application by the ANZ to buy National Bank. The…
Brash reaches National Party summit
Just 15 months after leaving the Reserve Bank of New Zealand, ex-governor Don Brash has just been appointed head of the NZ opposition. Bill English got the boot in a secret ballot after two failed election attempts to oust Helen Clark's Labour Party from…
FSAP in New Zealand
Officials from the International Monetary Fund (IMF) are now in New Zealand undertaking a previously announced Financial Sector Assessment Programme, the Reserve Bank of New Zealand said on 31 October.
RBNZ can veto bosses in biggest ever bank merger
The RBNZ cleared New Zealand's biggest ever commercial deal, the takeover of the National Bank by ANZ, but added the condition that it could veto senior appointments of directors or senior management. It is the first time new prudential banking…
RBNZ leaves rates unchanged
The Reserve Bank of New Zealand left interest rates unchanged at 5 per cent on Thursday 23 October. "As noted in our September monetary policy statement, the New Zealand economy has been enjoying strong economic growth, with robust domestic demand…
Reserve Bank of New Zealand Bulletin, Sep 2003
The Reserve Bank of New Zealand published its quarterly Bulletin for September 2003. Among the articles is an annual review of developments affecting New Zealand's financial stability. In the review the RBNZ concludes that New Zealand's financial sector…
Bollard on Investing in a low inflation world
In a speech on 'Investing in a low inflation world' given on 14 October, Alan Bollard of the Reserve Bank of New Zealand warned that too many New Zealanders are taking higher risks than they realise in the way they borrow and invest. Dr Bollard said that…
Reserve Bank of New Zealand - Annual Report 2003
The Reserve Bank of New Zealand has published its Annual Report for 2003. For the currency function the year was a period of consolidation, Governor Alan Bollard said in his statement, making sure the system works well and embedding the new polymer notes…
RBNZ Board chair elected
The Reserve Bank of New Zealand's Board of Directors elected Dr Arthur Grimes as its chair on 18 September. The Board also elected Mrs Alison Paterson as the Board's Deputy Chair.
IMF set to criticise RBNZ
The IMF is expected to criticise the Reserve Bank of New Zealand when it visits New Zealand in November, according to Reuters The IMF is expected to be critical because the RBNZ has little control of banks. Most are foreign-owned by big Australian banks.