-
RBNZ: The Minister of Finance and our board have agreed that an increase in foreign reserve holdings is required
RBNZ: THE MINISTER OF FINANCE AND OUR BOARD HAVE AGREED THAT AN INCREASE IN FOREIGN RESERVE HOLDINGS IS REQUIRED.
— Breaking Market News (@financialjuice) January 24, 2023
-
FOREIGN RESERVES ARE SAFE AND LIQUID ASSETS HELD IN CURRENCIES SUCH AS THE US DOLLAR, THE EURO, AND THE AUSTRALIAN DOLLAR - RBNZ.
— Breaking Market News (@financialjuice) January 24, 2023
-
AS PART OF THE FRAMEWORK, THE RESERVE BANK AND THE MINISTER OF FINANCE MUST AGREE ON THE LEVEL OF FOREIGN RESERVES THAT WE SHOULD HOLD IN ORDER TO MEET OUR OBJECTIVES - RBNZ.
— Breaking Market News (@financialjuice) January 24, 2023
-
New Foreign Reserves Framework agreed by RBNZ and Minister of Finance
We hold and manage foreign reserves in order to be able to intervene in the New Zealand dollar (NZD) market for financial stability or monetary policy reasons. Foreign reserves are safe and liquid assets held in currencies, such as United States dollars, Euros, and Australian dollars. Our chairman Professor Neil Quigley says a well-functioning foreign exchange market is critical to New Zealand’s economy with many people — including exporters, importers, borrowers and investors — reliant on these markets to exchange New Zealand dollars for foreign currency. “While foreign reserves are rarely used, it is ... (full story)