What Is The Reserve Bank Of New Zealand?
The Reserve Bank of New Zealand is New Zealand’s central bank. It was established in 1934, and although not a government department, has been wholly owned by the government of New Zealand since 1936. Like most central banks, the Reserve […]
What Is Monetary Policy?
Today, the Reserve Bank uses monetary policy to control inflation and keep it within a specific target band. Monetary policy is encountered by ordinary New Zealanders in several
What Is Inflation?
Inflation is the term used to describe a rise of average prices through the economy. It means that money is losing its value. The underlying cause is usually
What Is The Official Cash Rate?
The Official Cash Rate (OCR) is the interest rate set by the Reserve Bank to meet the inflation target specified in the Policy Targets Agreement. The agreement signed
What Is The Policy Targets Agreement?
The Reserve Bank of New Zealand Act 1989 specifies that the primary function of the Reserve Bank shall be to deliver "stability in the general level of prices."
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