Reserve Bank of New Zealand

Director of Money and Cash Ian Woolford recently spoke as part of a panel at the Anti Money Laundering and Countering Financing of Terrorism Conference in Wellington. The panel discussed the Future of Money including central bank digital currency (CBDC), crypto and emerging trends. Ian spoke about digital cash - the CBDC we are exploring for New Zealand, its potential features and what it would mean for Aotearoa. He outlined our recent consultation and some of the emerging themes from New Zealanders - including wanting privacy to be front and centre, as well the ability to continue using physical cash alongside digital payment options. His fellow panellists spoke about cryptocurrencies, financial crime, and how digital identities can protect against fraud before they took questions from the audience.

#LIVE Watch the media conference discussing our latest Financial Stability Report live at 1pm today: https://lnkd.in/gRYy7mpc In addition to questions from media, we will also be taking questions from the public through the chatbox on the livestream page.

We have just released our November Financial Stability Report. In the video Chris McDonald, Manager of System Monitoring & Analysis, explains the top things you should know about financial stability in New Zealand right now.

We've just announced key findings from our 2024 Reverse Stress Test, alongside an assessment of how geopolitical tensions could impact financial stability in New Zealand.   The Reverse Stress test prompted banks to explore severe scenarios that threatened their businesses and identify how they might respond. The exercise has improved our understanding of the potential vulnerabilities of the financial system.   This stress testing exercise highlighted geopolitical tensions as a risk for New Zealand. Geopolitical risk can disrupt international trade, weaken domestic demand and lead to financial market volatility. As a small open economy, dependent on international trade and investment, geopolitical risks could have a big impact on our financial system. Being aware of and managing these risks are crucial for the stability of the financial system. Read more here: https://lnkd.in/gjw-dXdi

We have just released our special topic on housing from our upcoming Financial Stability Report. Housing market activity remains subdued and potential buyers remain cautious. While house prices have fallen, high interest rates are still limiting buyers' borrowing ability. It is uncertain when and by how much demand for mortgage credit will increase.    Although New Zealand’s recent house price cycle has been rapid compared to others overseas, there has been comparatively less stress on our financial system. This highlighted the robustness of bank lending standards and our prudential regulations.   Home loans make up more than 60% of total bank lending in New Zealand and account for over half of all household wealth. Ensuring we remain vigilant in monitoring these trends and market dynamics is essential for safeguarding the financial system and economy. Find the full release here: https://lnkd.in/g-HDDVjg

Last week Governor Adrian Orr spoke to Kathleen Hays from Central Bank Central about monetary policy in Aotearoa New Zealand and why the US Federal Reserve didn’t influence our last rate cut.   Watch or read the interview here: https://lnkd.in/gKDASVgw

There are just four days left to get your submissions in for the RBNZ research conference (by the 1st of November) - if you intend to submit a paper get in quick. Thank you to all the researchers in New Zealand and overseas who have already submitted papers to the RBNZ conference in March 2025.    More details about the conference and call for papers here: https://lnkd.in/gDsA59J5

As an active member of Network for Greening the Financial System (NGFS), Te Pūtea Matua is proud to announce the release of the Cali-Baku Pledge. This pledge reaffirms the commitment of the NGFS community to addressing climate and environmental challenges across all sectors. Read the full Cali-Baku Pledge here: https://lnkd.in/eNfKs2QG

Paul Macpherson, Director of Information Security/Chief Information Security Officer, recently spoke at CybersecCon 2024. He outlined the work his team has led over the last five years, to manage cyber security risk here at Te Pūtea Matua. He emphasised that a holistic approach to cyber risk management requires a robust process of constantly assessing, tracking, and managing threats.

Governor Adrian Orr was interviewed by CNBC after his speech delivered to the Peterson Institute in Washington DC today. He spoke to CNBC's Karen Tso about getting price inflation back to target and how we got to the point where interest rates could be less restrictive in Aotearoa New Zealand. Watch the interview here: https://lnkd.in/gZqwxxQ2