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

 


March 2005 Reserve Bank Bulletin released

Reserve Bank of New Zealand
News Release
31 March 2005

March 2005 Reserve Bank Bulletin released

The Reserve Bank today released the March 2005 issue of the Reserve Bank of New Zealand Bulletin.

In 2004, the Bank announced the findings of a comprehensive review of its policies on foreign exchange intervention. The first article discusses the issues around foreign exchange market dysfunction and the rationale for holding reserves. It sets out the framework that the Bank used to review the optimal level of reserves. Based on that framework, the Bank recommended that its intervention capacity for crisis management be increased to a minimum of $7 billion. This recommendation was accepted by the Minister of Finance in February 2004.

An additional outcome of the review was a recommendation that, as one of its monetary policy implementation tools, the Bank should have the capacity to intervene in the foreign exchange market to influence the level of the exchange rate. The second article describes the Bank's new intervention role, the guiding principles, and the implications for the management of the Bank's foreign exchange reserves.

The third article provides a brief overview of trends in the manufacturing sector over the past few years. An interesting finding is that strong domestic conditions appear to have bolstered sales for some manufacturers at a time when export revenues have been under some pressure.

The fourth article briefly outlines amendments to the rules involving disclosures by registered banks on a range of financial matters.

The March issue also includes a chronology of key economic and financial events during 2004. Those receiving a hard copy of the Bulletin will find a poster enclosed showing the path of the exchange rate over the last 20 years, to mark the 20th anniversary of the float of the New Zealand dollar earlier this month.

To view the Bulletin click on the following link

http://www.rbnz.govt.nz/research/bulletin/2002_2006/mar2005.html

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news