Reserve Bank gets budget boost

Fri, 26 Jun 2020

The Reserve Bank has welcomed a significant funding boost that will see its budget increase from $80 million in 2019/20 to $111.7 million next year. Finance Minister Grant Robertson said the increase recognises that the number of full-time employees at the central bank will increase from 296 in 2018/19 to 468 by 2024/25. The increase means by July 1, 2024 the budget will be $118.3 million, an annual average of $115 million for the next five years. The bank funds itself through its own investments but its budget does require agreement w...

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