In its latest review of New Zealand’s banking sector, the Reserve Bank of New Zealand (RBNZ) identifies system, controls and risk management weaknesses. "Undertaken review of banks’ compliance with liquidity policy, identifying system, controls and risk management weaknesses."
New COVID-19 lockdown keeps rates on hold at RBNZ
LATEST MOVES OF THE RBNZ ON CORONAVIRUS COUNTERING
The Reserve Bank of New Zealand's governor Adrian Orr has recently crossed the wires and stated that the lockdown has highlighted how disruptive the virus can be. "The decision to hold the OCR made in context of level four."
The RBNZ remains on track to begin its tightening cycle as early as this October amid COVID-19 lockdown and rising house price inflation, the central bank’s Deputy Governor Geoff Bascand said in an interview with MNI on Tuesday.
RBNZ latest news
RBNZ latest analysis
AUGUST RBNZ DECISION
The Reserve Bank of New Zealand (RBNZ) board members decided to maintain the Official Cash Rate (OCR) at a record low of 0.25% in August, as against market expectations of a 25bps hike.
JULY RBNZ DECISION
There are no forecasts published, so there’s no need for the RBNZ to be prescriptive about precisely when they expect to kick off hikes, but the key notes are as follows: RBNZ leaves the official cash rate unchanged at 0.25% as expected.
MAY RBNZ DECISION
The Reserve Bank of New Zealand (RBNZ) is likely to maintain its monetary policy settings at its meeting on Wednesday at 02:00 GMT. Regarding the kiwi, NZD/USD has room to rise, although subject to US dollar’s dynamics and risk tone, FXStreet’s Dhwani Mehta briefs.
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
Interest rates latest news
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.