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The Reserve Bank of New Zealand (RBNZ) is the name of the central bank of New Zealand. Its primary purpose is to maintain the stability of New Zealand's financial system. | The Reserve Bank of New Zealand (RBNZ) is the name of the [https://volatility.red/Central_banks central bank] of New Zealand. Its primary purpose is to maintain the stability of New Zealand's financial system. | ||
In this Wiki, We will explore The Reserve Bank of New Zealand, its structure, mandates and more. | In this Wiki, We will explore The Reserve Bank of New Zealand, its structure, mandates and more. | ||
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=='''RBNZ Structure'''== | =='''RBNZ Structure'''== | ||
Unlike all other major central banks that we have discussed so far, the RBNZ has a structure that gives the decision-making power on monetary policy to the central bank governor alone. The rest of the members act only as advisors to the governor. | Unlike all other major [https://volatility.red/Central_banks central banks] that we have discussed so far, the RBNZ has a structure that gives the decision-making power on monetary policy to the [https://volatility.red/Central_banks central bank] governor alone. The rest of the members act only as advisors to the governor. | ||
They typically meet 8 times per year. | They typically meet 8 times per year. | ||
Revision as of 19:15, 11 March 2023
The Reserve Bank of New Zealand (RBNZ) is the name of the central bank of New Zealand. Its primary purpose is to maintain the stability of New Zealand's financial system.
In this Wiki, We will explore The Reserve Bank of New Zealand, its structure, mandates and more.
New Zealand – The Reserve Bank of New Zealand (RBNZ)
RBNZ Structure
Unlike all other major central banks that we have discussed so far, the RBNZ has a structure that gives the decision-making power on monetary policy to the central bank governor alone. The rest of the members act only as advisors to the governor.
They typically meet 8 times per year.
RBNZ Mandate
Its mandate is to maintain price stability and avoid instability of economic output, interest rates, and exchange rates.
The RBNZ has an inflation target of between 1% and 3%. It focuses hard on this target because failure to meet it could result in the governor of the RBNZ getting fired by the government.