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Relationship with the Reserve Bank of New Zealand

Page updated 11 April 2017

The Treasury and the Reserve Bank of New Zealand have common interests in the performance of the economy and wider financial stability.

The Treasury and the Reserve Bank have the following individual responsibilities:

  • the Treasury is the Government’s lead advisor on macroeconomics (other than on matters relating to the formulating and implementing of monetary policy), wider economic policy and all matters related to fiscal policy.
  • the Reserve Bank is New Zealand’s central bank. The Bank is the Government’s lead advisor on matters relating to the formulation and implementation of monetary policy, prudential supervision, macro-prudential policy and financial markets.

The principles under which the Treasury and the Reserve Bank agree to work together are established in the Memorandum of Understanding on Information Exchange and Collaboration, agreed in June 2012.

Memorandum of Understanding on Information Exchange and Collaboration

The Treasury and the Reserve Bank of New Zealand agreed a Memorandum of Understanding (MoU) in June 2012. 

The MoU sets out the roles and responsibilities of the Treasury and the Reserve Bank and establishes the principles under which they agree to work together to ensure the Government receives the best possible policy and operational advice on matters relating to the macro-economy and the monetary and financial system.  

Memorandum of Understanding on Macroprudential Policy and Operating Guidelines

The Minister of Finance and the Governor of the Reserve Bank of New Zealand agreed a Memorandum of Understanding (MoU) in May 2013.

The MoU sets out the objectives of macroprudential policy, the guidelines under which the Reserve Bank operates and the arrangements for consultation, reporting and accountability.

Document

The release documents listed here are available in Adobe PDF format only. HTML versions can be supplied on request by Information Services at the Treasury.
Using PDF Files

Contact

Bryan McDaniel | Principal Communications Advisor
Tel: +64 4 917 6268 or +64 21 817 207
Email: bryan.mcdaniel@treasury.govt.nz

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