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General publications

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About us

Reserve Bank of New Zealand’s Annual Report

History of the Reserve Bank of NZ (PDF 804KB) July 2009
In 2009 the Reserve Bank marked its 75th year of operations – three quarters of a century spanning some of New Zealand’s most tumultuous decades.

About the Reserve Bank Museum (PDF 1.1MB) April 2008

The Reserve Bank and New Zealand’s Economic History (PDF 2.5MB)
Published July 2007. This booklet outlines the broad history of the New Zealand economy since the 1840s, and details the role the Reserve Bank has played in it since the mid-1930s. Also available as individual chapters for download.

What is the Reserve Bank?
Published November 2007. A one-page fact sheet. Also available as a PDF (159KB).

This is the Reserve Bank
A sixteen-page overview of what we do. Also available as PDF (PDF 657KB).

Reserve Bank Statement of Intent 1 July 2009 - 30 June 2012 (PDF 154KB)

Briefing on the Reserve Bank of New Zealand, December 2008

Financial Stability

Explaining Financial System Liquidity (PDF 52KB)

Origins of the ‘Credit Crunch’ and Recession (PDF 44KB)

Monetary policy

Monetary Policy Statement
Published quarterly, each Monetary Policy Statement (MPS) describes how the Reserve Bank proposes to achieve its targets; how it proposes to formulate and implement monetary policy during the next five years; and how monetary policy has been implemented since the last MPS.

Explaining Monetary Policy (PDF 415KB)
Published July 2007. This brochure explains what monetary policy is, and how the Reserve Bank implements it.

What is inflation?
Published December 2006. A one-page fact sheet on what inflation and deflation are in the New Zealand context. Also available as a PDF (123 KB)

What is the Official Cash Rate?
Published December 2006. A one-page fact sheet on the primary instrument that the Reserve Bank uses to implement monetary policy. Also available as a PDF (88 KB)

What is the Policy Targets Agreement?
Published May 2007. A fact sheet on the agreement between the Minister of Finance and the Governor of the Reserve Bank. The PTA sets specific targets for achieving and maintaining price stability.

Policy Targets Agreement: Reserve Bank briefing note and related papers
Published September 2002.

RBNZ’s survey of inflation expectations

Marketscope survey of inflation expectations

Notes & coins

Explaining currency: New Zealand’s bank notes and coins (PDF 200KB)
General information on New Zealand’s bank notes and coins, including pictures.

The polymer bank notes
This PDF brochure tells you how to handle the new polymer notes and how to tell if the notes are genuine. (115KB)

Money for the new millennium
A brochure on the circulating $10 millennium notes (PDF 274KB)

Celebrating the new millennium with the commemorative $10 bank note: an explanation of design (PDF 671KB)
A brochure which looks at the design of the special collectors’ edition $10 millennium bank note issued in 1999.

NZ Banks

Your bank’s disclosure statement – what’s in it for you?
A pamphlet that explains the financial disclosure requirements for registered banks and some of the key terms used in banks' disclosure statements.

Banking supervision handbook
Detailed information on the Reserve Bank's banking supervision policy framework.

For schools

The Tale of the TT2
A story about inflation for junior students.

The PIE (People, Inflation, Economics) Kit
Published March 1997. An educational resource for Year 9 & 10 students.

The New Zealand dollar float – the first 20 years (poster format)
Published March 2005. Chart depicting the rate of the New Zealand dollar against the United States dollar from the year 1983 to 2004. Available in hard copy format only. Use the Publications order form to order your copy.

Saving & investing booklets

Snakes and ladders: A guide to risk for savers and investors PDF (675KB)
Published November 2004. A booklet written by Mary Holm, commissioned by the Reserve Bank of New Zealand.

The real story: Saving and investing now inflation is under control PDF (302KB)
Published November 1998. A booklet written by Mary Holm, commissioned by the Reserve Bank of New Zealand.