Reserve Bank of New Zealand

This week we released a joint paper with The Treasury - New Zealand which provides an assessment of how restricted land supply is in Auckland and how this has changed. Among the paper’s findings is that these restrictions are estimated to have added $378.4 per square metre to the price of urban land immediately inside of the Rural Urban Boundary line in Auckland in 2021. Read more here: https://lnkd.in/gFxX23_Z

Yesterday the Monetary Policy Committee agreed to reduce the Official Cash Rate by 50 basis points to 4.25%. If economic conditions continue to evolve as projected, the Committee expects to be able to lower the OCR further early next year. Read our full Monetary Policy Statement here: https://lnkd.in/gNxMbYjM

The Monetary Policy Committee today agreed to reduce the Official Cash Rate by 50 basis points to 4.25%. If economic conditions continue to evolve as projected, the Committee expects to be able to lower the OCR further early next year. Find our full Monetary Policy Statement here:  https://lnkd.in/gNxMbYjM

The Monetary Policy Committee today agreed to reduce the Official Cash Rate by 50 basis points to 4.25%. Inflation has declined and is now within our target band of 1-3%. If economic conditions continue to evolve as projected, the Committee expects to be able to lower the OCR further early next year. Read more: https://lnkd.in/gd-iRi4X

#REMINDER You can watch the Monetary Policy Statement media conference live at 3pm tomorrow here: https://lnkd.in/gB8C3Y8p   #rbnz #MPS #monetarypolicystatement

There are just a few days left to have your say on our Deposit Takers Act (DTA) consultations.   We welcome your feedback on: •Our policy proposals for nine non-core Deposit Taker Standards.  This consultation sets some of the minimum requirements that deposit takers must comply with under the DTA.    •Our Crisis Management under the DTA . This issues paper sets out key issues for operationalising the crisis management regime under the DTA.    Learn more and make a submission here: https://lnkd.in/gGgKt6dq Consultation closes Friday 22 November 2024.

Director of Knowledge and Information Management Michelle Burke recently presented at the Snowflake World Tour 2024 conference in Auckland. She spoke about Puna - the data and analytics platform we use here at Te Pūtea Matua, and how it makes our data more accessible. She outlined how its analytical capabilities support our data analysts, data consumers, and decision-makers. This platform gives them safe and secure access to increasingly large volumes of high-quality data. Michelle shared that in delivering Puna and our first data product, the team learned the importance of a people-centred delivery. She said this approach creates a shared responsibility for the project's success and highlights the value of the project across the organisation.

Last week Assistant Governor Kate Kolich spoke at CDAO (Chief Data & Analytics Officer) New Zealand. She presented on the topic ‘Data leadership within and beyond your organisation’.   Kate spoke about cultivating a data-driven culture here at Te Pūtea Matua. She highlighted that having a strong data and information governance framework enables us to make evidence-based decisions, using high-quality data.   Kate outlined how engagement with stakeholders inside and outside the organisation, alongside strong data and information governance, informs successful leadership in this space.   She detailed how we work closely with our regulated banks and non-bank deposit takers to deliver on our data projects.  Image descriptions: 1. Kate speaking at podium 2. Kate with other New Zealanders who were included in the global list of Top 100 data leaders. (L-R) Kate Kolich - Assistant Governor RBNZ, David Thomas - GM Portfolio NZ Post, Kari Jones - Executive Director - Transformation and Operational Delivery, Financial Markets Authority (FMA) and Peter Gavin - GM Data & Analytics ANZ

We are part-way through an access review of our Exchange Settlement Account System (ESAS) to consider eligibility changes. We are currently consulting on our revised access policy and whether it is easy to follow. We are also seeking feedback on what clarity and guidance would be useful to help navigate the application process. Consultation closes next week on Monday 18 November 2024. Read more and have your say here: https://lnkd.in/gpm8zQzC

We have updated our research agenda for the current year. Our work here at Te Pūtea Matua plays a central role in the New Zealand economy. We set monetary policy to support price stability and act as kaitiaki (guardians) of the financial system.    To make well-informed decisions, we draw on a comprehensive body of research into different parts of the New Zealand economy. This work asks big questions ranging from how individual firms set their prices to what the future of money will look like in Aotearoa.   Find out more about our research and opportunities for collaboration here: https://lnkd.in/gqNU4piR