Academic journal article The Reserve Bank of New Zealand Bulletin

RBNZ Committed to Strong Performance in Challenging Times

Academic journal article The Reserve Bank of New Zealand Bulletin

RBNZ Committed to Strong Performance in Challenging Times

Article excerpt

26 June 2013

The Reserve Bank's commitment to strong performance is underlined in the Bank's Statement of Intent (SOI) for 2013-2016.

Governor Graeme Wheeler said the SOI reflects the Bank's strategic approach to responding to the challenging environment, and outlines the priorities for the next three years.

"The New Zealand economy has been growing more rapidly than many other advanced economies, but it also faces several challenges, including the high New Zealand dollar, the effects of drought, Government fiscal consolidation, the Christchurch rebuild, and the housing market. The Reserve Bank's people, processes and resources are committed to a vision of being a high-performing small central bank.

"The Bank has adopted 10 strategic priorities, many of which run across several functions and departments. These priorities aim to continue to strengthen the Bank's performance, develop a more integrated approach to policy, and further improve infrastructure and reduce enterprise risk," Mr Wheeler said.

Mr Wheeler said the Bank is establishing a new MacroFinancial Department and will undertake more work on the interface between monetary policy and macro-prudential policy. …

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