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. 70, No. 3, September

A Profile of the NZ Dollar Foreign Exchange Market
In this article we review developments in the NZD/USD market between January 2001 and March 2006 using a new and detailed dataset from Reuters. Given the traditionally opaque nature of the global FX market, the dataset provides some insights into the...
Discussion Papers
DP2007/10 Understanding the New Zealand current account: a structural approach Anella Munro and Rishab Sethi, July 2007 In this paper we use a small open economy model to identify the causal factors that drive New Zealand's current account....
Editor's Note
Over recent years, a range of indicators and much anecdotal evidence has pointed to a significant increase in trading activity in the New Zealand dollar (NZD). In the first article of this issue, Nick Smyth of the Financial Stability Department undertakes...
National Finalists Announced in Reserve Bank Monetary Policy Challenge
9 August 2007 The Reserve Bank announced today the six secondary schools that have made it through to the national final of the 2007 Monetary Policy Challenge (MPC). All national finalists were selected from 56 schools that competed in regional...
National Winners Announced in Reserve Bank Monetary Policy Challenge
24 August 2007 The Reserve Bank announced today that New Plymouth Girls' High School is the national winner of the Reserve Bank of New Zealand 2007 Monetary Policy Challenge (MPC). Timaru Boys' High School placed second in the national final and...
OCR Unchanged at 8.25 Percent
13 September 2007 The Official Cash Rate (OCR) will remain unchanged at 8.25 percent. Reserve Bank Governor Alan Bollard said: "The outlook for economic activity and inflation has become more uncertain since we reviewed the OCR in July. Credit...
Payments and the Concept of Legal Tender
This article briefly looks at the concept of legal tender, drawing on the experience of New Zealand's recent change-over to new, lighter coins. Legal tender is a tender of payment that, by law, cannot effectively be refused in settlement of a debt...
Price Changes by Firms in New Zealand-Some Evidence from the Quarterly Survey of Business Opinion
In the last decade, central banks have conducted new research enhancing their understanding of firm-level price-setting behaviour. This work has revealed new information about the frequency with which firms change prices and provided explanations as...
Reserve Bank Announces Changes to FX Management
13 July 2007 The Reserve Bank today announced changes to its financing and management of New Zealand's foreign currency reserves. The moves arise from a review of the Bank's balance sheet, announced in its Statement of Intent in June 2006. The...