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. 75, No. 3, September

Alan Bollard-Reflections from 2002-2012
So as a newcomer to central banking, what were your first impressions of the Reserve Bank and your new role upon becoming Governor? Well, it all rather depends on where you have come from and for me I'd been around the Wellington system for a while....
Asset Returns and the Investment Choices of New Zealanders
1 Introduction The Reserve Bank is interested in understanding the behaviour of a broad range of assets from a macroeconomic perspective. In this article, a new set of estimated gross returns is used to contrast the returns seen across a wide range...
Dealing with Debt: Speech to the Auckland Employers and Manufacturers Association, 6 August 2012
Introduction Households, firms, and governments across much of the advanced world have taken on very large amounts of debt in the last couple of decades. In New Zealand, for example, the private sector owes three times what it did in 1998. People...
Debt Deleveraging Underway, but Still a Long Way to Go: 6 August 2012
New Zealand may be dealing with the aftermath of the large increase in private debt for quite some time, Reserve Bank Governor Alan Bollard said today. In a speech to the Employers and Manufacturers Association in Auckland, Dr Bollard said governments,...
Financial Resilience Strengthened: 24 September 2012
The Reserve Bank's latest Annual Report demonstrates progress on several fronts to enhance New Zealand's resilience against global financial and economic uncertainty. "With the aftershocks of international and domestic crises persisting longer than...
Foreign Currency Reserves: Why We Hold Them Influences How We Fund Them
Introduction Almost all countries hold foreign currency reserves. Doing so provides options-a self-insurance of sorts that would not exist so readily in the absence of reserves. What options a country wishes to provide for will in turn depend on...
Learnings from the Global Financial Crisis: Sir Leslie Melville Lecture, Australian National University, Canberra, 9 August 2012
1 Introduction The global financial system went through major convulsions in 2008, putting great pressure on an already weakening global economy. A massive global economic recession followed, contributing to the emergence of a sovereign debt crisis...
Minister of Finance Announces Graeme Wheeler to Be Appointed RBNZ Governor: 26 June 2012
News release issued by the Minister of Finance Finance Minister Bill English today announced his intention to appoint Graeme Wheeler governor and chief executive of the Reserve Bank of New Zealand, after Alan Bollard's second Five-year term expires...
New Designated Settlement System: 7 September 2012
The Reserve Bank of New Zealand and the financial Markets Authority (FMA) today announced that the NZClear Settlement System has been declared a designated settlement system under Part 5C of the Reserve Bank of New Zealand Act. The designation will...
New Policy Targets Agreement Signed Today: 20 September 2012
Finance Minister Bill English and incoming Reserve Bank Governor Graeme Wheeler today signed a new Policy Targets Agreement, which sets out specific targets for maintaining price stability. The new Policy Targets Agreement takes effect on 26 September,...
Rangitoto College Wins Monetary Policy Challenge: 24 August 2012
The Reserve Bank has announced today that Rangitoto College from Auckland is the national winner of the Reserve Bank 2012 Monetary Policy Challenge (MPC). Burnside High School from Christchurch was placed second and Waikato Diocesan School for Girls...
The Economic Impact of the Canterbury Earthquakes
Introduction In late 2010 and in 2011, Canterbury endured a series of major earthquakes. These earthquakes have caused deaths and considerable destruction in Christchurch and the surrounding area. Identifying the economic impact is difficult....