The Reserve Bank of New Zealand Bulletin

Quarterly that explores issues related to both central banking and the New Zealand economy. On the record speeches of the Governor and Deputy Governors also featured regularly.

Articles from Vol. 73, No. 2, June

Editor's Note
In this edition of the Reserve Bank Bulletin we present four articles that cover macro-financial stability, procyclicality of the financial system, global trade and the management of the Reserve Bank's balance sheet. In our lead article, Deputy...
Financial Sector Amplification and Credit Cycles in New Zealand
1 Introduction The recent international financial crisis has illustrated a variety of mechanisms through which financial markets and institutions can amplify macroeconomic cycles, with potentially severe impacts on the real economy. (2) This article...
Financial System Outlook Improved but Fragile: Date 19 May 2010
The outlook for the financial system has improved over recent months, reflecting a recovery in the New Zealand economy driven by stronger trading partner activity and a sharp lift in the terms of trade, Reserve Bank Governor Alan Bollard said today...
Handling Our Economic Recovery: Date 6 May 2010
New Zealand's recovery from the Global Financial Crisis is entering a new, less fragile stage, which will allow monetary policy stimulus to be removed, Reserve Bank Governor Alan Bollard said today. "New Zealand has been fortunate in some respects,...
March 2010 Reserve Bank Bulletin Released: Date 31 March 2010
Implications for policy in light of the global financial crisis, both in New Zealand and across the globe, are the focus of the March 2010 Reserve Bank of New Zealand Bulletin, released today. The lead article notes that, while inflation targeting...
Publications
Regular publications Annual Report Published in October each year. Financial Stability Report Published six-monthly. A statement from the Reserve Bank on the stability of ...
Reserve Bank Raises OCR to 2.75 Percent: 10 June 2010
The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 2.75 percent. Reserve Bank Governor Alan Bollard said: "The economy has entered its second year of recovery with growth becoming more broad-based. "The recovery...
The Reserve Bank and Macro-Financial Stability
1 Introduction Central banks have traditionally had two main functions: (i) managing monetary conditions in the domestic economy to stabilise aggregate prices and/or economic activity; and (ii) promoting financial stability as overseer of the financial...
The Reserve Bank's New Approach to Holding and Managing Its Foreign Reserves
Introduction Over the last five years, the Reserve Bank has devoted considerable effort to assessing whether its balance sheet is structured and managed in a way that best helps deliver on its statutory policy obligations. This 'Balance Sheet Review'...
World Trade Interdependencies: A New Zealand Perspective
1 Introduction International trade matters for long-run growth. This is especially true for small open economies such as Australia and New Zealand. The openness of one country (the amount of international trade a country engages in as a proportion...