Reserve Bank shaping up to be Great Team, Best Central Bank
25 June 2019
The Reserve Bank of New Zealand is outlining its vision, purpose, and values which will ensure that we are well equipped to deliver on our commitments in the Statement of Intent 2019-2022 released today.
Reserve Bank Governor Adrian Orr said that the Bank is at a pivotal point in its 85 year history.
“We are operating against a backdrop of significant change – globally, culturally as an institution, and in the government’s and public’s expectations of us. We continue to build our capability to respond to, lead, and influence our rapidly changing environment.
“We want to be a Great Team and the Best Central Bank. To get there, we need to review the way we operate, the way we engage, and the way we think about and deliver our core responsibilities,” Mr Orr said.
“This includes operating to the full extent of our legislative mandate, being more robust in our regulatory activities, taking a long-term view in all our policy work, embracing innovation, and being influential on the broader challenges that affect the people of New Zealand.”
Significant multi-year initiatives detailed in the Statement of Intent 2019-2022 include building internal people and digital capability, updating the Real Time Gross Settlement (RTGS) system, finalising the Future of Cash work programme, and improving our connection to broader society, including our climate change work, our Te Ao Maori strategy, and collaborating with other central banks in our region.
“Our vision is to be the Best Central Bank, with a Great Team. So we will continue to steer our course with care, preparing for what is on the horizon, and ensuring that we are well equipped to deliver on our commitments,” Mr Orr said.