New Zealand Reserve Bank Reform

Phase One

Authors

  • Ben Thirkell-White

DOI:

https://doi.org/10.26686/pq.v15i2.5373

Keywords:

Reserve Bank of New Zealand, central banking, quantitative easing, political economy

Abstract

The inflation-targeting approach to central banking was invented in New Zealand, before becoming the global standard during the 1990s. Despite this popularity, significant reforms were introduced to the Reserve Bank Act in late 2018 as part of a two-stage review, notably an expanded mandate and a committee decision-making structure. This article reviews the changes in the light of global and domestic challenges to central banking emerging since the global financial crisis.

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Published

2019-05-22

Issue

Vol. 15 No. 2 (2019): Special Issue: Localism and Devolution

Section

Articles

License

Permission: In the interest of promoting debate and wider dissemination, the IGPS encourages use of all or part of the articles appearing in PQ, where there is no element of commercial gain. Appropriate acknowledgement of both author and source should be made in all cases. The IGPS retains copyright. Please direct requests for permission to reprint articles from this publication to igps@vuw.ac.nz.