Reserve Bank of New Zealand
The Official Cash Rate has been affected by the COVID-19 lockdown. Check the Reserve Bank of New Zealand website for details.
Their role includes:
- operating monetary policy, eg by setting the Official Cash Rate (OCR) to keep prices stable
- helping to keep the banking, finance company and insurance sectors running smoothly
- supplying NZ's money, eg notes and coins
The Governor of the Reserve Bank is accountable to the government for the bank's performance, but in most other areas has statutory independence about how outcomes are achieved.