RBNZ’s Hawkesby: Reserve Bank seeks to preserve benefits of cash
|Te Pūtea Matua is taking on a new role of steward of the cash system “to preserve the benefits of cash for all who need them”, Assistant Governor Christian Hawkesby told the Royal Numismatics Society of New Zealand annual conference today (Wellington, Monday, 19 October 2020).
“Cash is being used less as a means of payment and access to cash is declining. However, cash provides important benefits to many people, including legal tender money, social and financial inclusion, peer-to-peer payments, backup payments, and privacy and autonomy,” said Mr Hawkesby.
Full speech
There was no market reaction to the speech.
On the data calendar, inflation numbers for 3Q will be the key highlight.
The rising prospect of the Reserve Bank of New Zealand adding more monetary stimulus already in November is a weight on the currency.
NZD/USD Price Analysis: Bears wait for confirmation of the downside
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