Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Reserve Bank foreign exchange intervention


Reserve Bank foreign exchange intervention principles

The Reserve Bank today released a letter from the Bank to the Minister of Finance outlining how it intends to undertake foreign exchange market interventions. The letter is attached.

This follows the Reserve Bank recommending, and the Government resolving, that the Reserve Bank should have the financial capacity to undertake foreign exchange interventions designed to influence the value of the exchange rate.

Reserve Bank Governor Alan Bollard commented "This letter lays out the objectives and parameters that the Bank will apply when making decisions about foreign exchange intervention. An important consideration in preparing these principles was the preservation of the Reserve Bank's operational independence in relation to the implementation of monetary policy. In issuing this letter, the Reserve Bank is continuing its long standing practice of being transparent and accountable for its decisions."

In addition, the Reserve Bank and the Treasury later today will be placing on their websites ( http://www.rbnz.govt.nz & http://www.treasury.govt.nz) their recent advice to the Minister of Finance on these matters.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>