RBNZ
The Reserve Bank of New Zealand (RBNZ) is the central bank of New Zealand. It is responsible for the formulation and implementation of monetary policy, the regulation of the banking system, and the issuance of currency. The RBNZ was established in 1934 and is based in Wellington. It is a member of the Bank for International Settlements (BIS) and the International Monetary Fund (IMF).
History of RBNZ
The Reserve Bank of New Zealand was established in 1934, following the passage of the Reserve Bank of New Zealand Act. The Act established the RBNZ as an independent central bank, with the primary objective of maintaining price stability. The RBNZ was given the power to issue currency, regulate the banking system, and manage the country’s foreign exchange reserves. The RBNZ is also responsible for the supervision and regulation of the banking system, and the management of the country’s foreign exchange reserves.
The RBNZ is headed by a Governor, who is appointed by the government. The Governor is supported by a Deputy Governor and a Board of Directors. The Board is responsible for setting the bank’s policy and for overseeing its operations. The RBNZ is also responsible for the supervision and regulation of the banking system, and the management of the country’s foreign exchange reserves.
Comparison Table
| RBNZ | Other Central Banks |
|---|---|
| Established in 1934 | Established in different years |
| Responsible for monetary policy | Responsible for monetary policy |
| Issues currency | Issues currency |
| Regulates banking system | Regulates banking system |
| Manages foreign exchange reserves | Manages foreign exchange reserves |
Summary
The Reserve Bank of New Zealand (RBNZ) is the central bank of New Zealand. It is responsible for the formulation and implementation of monetary policy, the regulation of the banking system, and the issuance of currency. The RBNZ was established in 1934 and is based in Wellington. It is a member of the Bank for International Settlements (BIS) and the International Monetary Fund (IMF). For more information about the RBNZ, you can visit the official website of the RBNZ or the websites of the BIS and IMF.
See Also
- Monetary Policy
- Banking System
- Currency
- Foreign Exchange Reserves
- Bank for International Settlements
- International Monetary Fund
- Central Bank
- Interest Rates
- Exchange Rates
- Financial Stability
