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The Reserve Bank of New Zealand (RBNZ) (Māori: Te Pūtea Matua) is the central bank of New Zealand. It was established in 1934 [2] and is currently constituted under the Reserve Bank of New Zealand Act 2021. [3] The governor of the Reserve Bank, currently Adrian Orr, is responsible for New Zealand's currency and operating monetary policy.
The coat of arms of the Reserve Bank of New Zealand. In 1934, the Reserve Bank of New Zealand was established as the country's central bank. Its primary objective was to regulate monetary policy, maintain price stability, and promote the stability and efficiency of the financial system.
The bank is one of New Zealand's big four banks. It operates under the same brand as its parent but is operationally separated as required by the New Zealand banking regulator the Reserve Bank of New Zealand. It provides retail banking and commercial banking services across New Zealand and operates 196 branches and 500 ATMs.
New Zealand's new government will introduce legislation to reform the Reserve Bank of New Zealand's mandate and lift a ban on the sale of cigarettes to future generations within its first 100 days ...
New Zealand retail banking subsidiary HSBC: 1.2% (2022) Mumbai, India: Bank of India New Zealand: 31 March 2011 New Zealand retail banking subsidiary Indian State owned Bank of India: 0.0% (2022) New York, New York: Citibank New Zealand: 22 July 1987 New Zealand registered corporate banking branch of offshore banking group Citibank: Beijing, China
Luxon, 53, said the government will also amend the Reserve Bank of New Zealand Act 2021 to remove the dual mandate on inflation and employment, to focus monetary policy only on price stability.
For retail customers, Bank of New Zealand offers a range of products and services that include savings and investments, home loans, credit cards, personal loans, insurance and international and migrant banking. [13] Customers are able to bank using telephone banking, internet banking or by visiting one of 180 branches around New Zealand.
The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans between commercial banks. This allows the Reserve Bank of Australia and the Reserve Bank of New Zealand to adjust the interest rates that apply in each country's economy. The ...