Reserve Bank: Change, what change?

Reserve Bank: Change, what change?
The Reserve Bank's governing legislation has been updated. (Photo: BusinessDesk)
Jenny Ruth
The Reserve Bank is one of New Zealand's most powerful institutions and its decisions touch everybody, both when it's determining interest rates and when it's supervising banks, insurance companies and other deposit-taking entities.It was recognition of this, and the fact that the original act was written so long ago in 1989, that drove a government review of the central bank's legislation that began in 2017.The monetary policy committee (MPC) is now firmly in place, having started meeting from April 2019.No longer does the Rese...

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