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What is the difference between the Reserve Bank of New Zealand and the Treasury?

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The Treasury is a Government department and provides economic and financial advice to the Government. The Reserve Bank is New Zealand's central bank and is not a Government department. The Reserve Bank's purpose is to maintain the stability and security of the financial system by, for example, operating monetary policy so as to achieve and maintain price stability.

See About Us - Reserve Bank of New Zealand and About Treasury for more information.