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The Reserve Bank's new foreign exchange intervention policy

Author

Listed:
  • Kelly Eckhold
  • Chris Hunt

    (Reserve Bank of New Zealand)

Abstract

Last year the Reserve Bank concluded a review of its foreign exchange intervention policy. The review resulted in a recommendation to the Government that the Bank be given the capacity to broaden the objectives of foreign exchange intervention towards helping the Governor achieve monetary policy objectives as dictated by the Policy Targets Agreement (PTA). This article describes our new intervention role and the implications for the management of the Bank's foreign reserves.

Suggested Citation

  • Kelly Eckhold & Chris Hunt, 2005. "The Reserve Bank's new foreign exchange intervention policy," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 68, March.
    • Handle: RePEc:nzb:nzbbul:march2005:3
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2005/2005mar68-1eckholdhunt.pdf
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    Citations

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    Cited by:

    1. Anella Munro & Michael Reddell, 2012. "Foreign currency reserves: why we hold them influences how we fund them," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 75, pages 35-45, September.
    2. Juan Pablo Medina & Anella Munro & Claudio Soto, 2008. "What Drives the Current Account in Comodity Exporting Countries? The Cases of Chile and New Zealand," Central Banking, Analysis, and Economic Policies Book Series, in: Kevin Cowan & Sebastián Edwards & Rodrigo O. Valdés & Norman Loayza (Series Editor) & Klaus Schmidt- (ed.),Current Account and External Financing, edition 1, volume 12, chapter 10, pages 369-434, Central Bank of Chile.
    3. Julia Ratcliffe & Ross Kendall, 2019. "Monetary policy strategy in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 82, pages 1-25, April.
    4. Sebastian Edwards, 2006. "External Imbalances in an Advanced, Commodity-Exporting Country: The Case of New Zealand," NBER Working Papers 12620, National Bureau of Economic Research, Inc.
    5. Kelly Eckhold, 2010. "The currency denomination of New Zealand’s unhedged foreign reserves," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 73, pages 37-46, September.

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