With the coronavirus restrictions lifted for most of New Zealand (NZ), lower unemployment rate forecast and less-severe-than expected economic slump, the Reserve Bank of New Zealand (RBNZ) is expected to keep the Official Cash Rate (OCR) unchanged at a record low of 0.25% for the fourth straight month in September.
RBNZ strategy is to keep yield curve low, but not negative rates
Latest moves of the RBNZ on coronavirus countering
Our policy approach is in line with the new US Federal Reserve's (Fed) average inflation targeting strategy, the Reserve Bank of New Zealand (RBNZ) Assistant Governor Christian Hawkesby said in a statement on Friday. Additional comments: “Sees 'a number of parallels' between the Fed and its own approach.” “RBNZ stance is to allow inflation to run above target after a period of weakness.”
A lot of work needs to be done in order to achieve the monetary policy targets, said the Reserve Bank of New Zealand (RBNZ) Assistant Governor Christian Hawkesby on Wednesday. Additional comments: “Looking to use balance sheet more.”
At its monetary policy meeting held on Wednesday, June 24, the Reserve Bank of New Zealand (RBNZ) left the Official Cash Rate (OCR) unchanged at a record low of 0.25% for the second straight month, as widely expected. The RBNZ kept its QE programme size unchanged at around NZD60 billion.
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September RBNZ decision
At its September monetary policy meeting, the Reserve Bank of New Zealand (RBNZ) board members decided to keep the Official Cash Rate (OCR) unadjusted at a record low of 0.25% for the fourth month in a row, as widely expected.
The Reserve Bank of New Zealand’s (RBNZ) monetary policy decision was accompanied by the minutes of the meeting, which showed that the board members reaffirmed that funding for lending programme (FLP), a lower or ...
August RBNZ decision
The Reserve Bank of New Zealand (RBNZ) board members decided to leave the Official Cash Rate (OCR) unchanged at a record low of 0.25% for the third straight month in August, as much anticipated.
The Reserve Bank of New Zealand’s (RBNZ) monetary policy decision was accompanied by the minutes of the meeting, which showed that board members will continue to provide additional stimulus as necessary.
What is the RBNZ
The Reserve Bank of New Zealand is New Zealand's central bank. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things: formulate and implement monetary policy to maintain price stability, promote the maintenance of a sound and efficient financial system and meet the currency needs of the public.
Who is RBNZ's president?
Adrian Orr is the Governor of the Reserve Bank of New Zealand. He was appointed in March 2018. He is New Zealand born and bred, and primarily of Cook Island and Irish descent. Adrian graduated from the University of Waikato in 1983 with a Bachelor of Social Sciences, majoring in Economics and Geography. He also holds a Master’s Degree in Development Economics (Distinction) from the University of Leicester, England, graduating in 1985. Adrian has also served as Chair of the International Forum of Sovereign Wealth Funds, and Chair of the Pacific Pension and Investment Institute.
Adrian official RBNZ profile
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The World Interest Rates Table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.