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. 64, No. 3, September

Central Banking: Back to the Future
Reserve Bank of New Zealand Discussion Paper DP2001/05 In this recently released Discussion Paper, Bruce White explores the nature of the transmission of monetary policy from the central bank to the financial markets in a modern, deregulated, financial...
Comments by Dr Don Brash, Governor of the Reserve Bank of New Zealand On: Three Perspectives on an Australasian Currency Union
By Andrew Coleman, The University of Michigan, Future Directions for Monetary Policies in East Asia. At a conference hosted by the Reserve Bank of Australia, HC Coombs Centre for Financial Studies, Kirribilli, Sydney on 24 July 2001. At the outset,...
Editor's Note
This edition of the Bulletin contains three articles. Two of the articles deal with the Bank's core function of monetary policy, although covering very different aspects of it, while the third article covers matters relating to the Bank's financial...
Faster Growth? If We Want It
An address by Donald T Brash, Governor of the Reserve Bank of New Zealand to the Catching the Knowledge Wave conference, Auckland on 2 August 2001 Fundamentally, this conference is about economic growth, and how New Zealand can get more of it. ...
Faster Growth? If We Want It
2 August 2001 Reserve Bank Governor Don Brash today said that if New Zealand is to achieve faster economic growth, first of all New Zealanders have to want it. Speaking at the "Catching the Knowledge Wave" conference in Auckland, Dr Brash said...
Hon. Michael Cullen Broad Support for Svensson Review Changes to the Reserve Bank Act
7 August 2001 Broad support for Svensson Review changes to RBA "The Government has cross-party support for a series of minor changes to the Reserve Bank Act arising out of the Svensson Review of the Operation of Monetary Policy," Finance Minister...
Independent Review of the Operation of Monetary Policy: Final Outcomes
Joanne Archibald, Economics Department [1] On 7 August 2001, the Treasurer announced the results of the independent review of the operation of monetary policy. This article outlines these outcomes, focusing particularly on the modifications to the...
Macro-Financial Stability and Macroprudential Analysis
Ian Woolford [1] The Reserve Bank has recently extended its efforts to monitor and analyse financial stability issues. This article discusses the establishment of the Macro-Financial Stability (MFS) section in the Reserve Bank and some of the potential...
OCR Unchanged
15 August 2001 The Reserve Bank today left the Official Cash Rate unchanged at 5.75 per cent. Speaking at the release of the Reserve Bank's August Monetary Policy Statement Dr Brash said "Reasonable estimates suggest that so far the 'underlying...
What Is the Neutral Real Interest Rate, and How Can We Use It?
Joanne Archibald and Leni Hunter, Economics Department [1] This article sets out the Reserve Bank's conception of the "neutral real interest rate", and identifies factors that influence its level. These factors provide a starting point for thinking...