ForeXistenZ › Central banks › RBNZ
Reserve Bank of New Zealand (RBNZ)
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The first central bank in the world to adopt inflation targeting.
How the RBNZ moves the NZD
A central bank sets the interest rate on its currency. Traders compare that rate with the rates of other central banks; the wider the gap, the stronger the pull of money towards the higher-yielding currency. That is why the minutes before a RBNZ decision are among the most volatile of the month for the NZD. Book I and Book II of the ForeXistenZ trilogy show how to prepare for these days — and when to stay out.
Frequently asked
What does the Reserve Bank of New Zealand do?
The first central bank in the world to adopt inflation targeting.
Where is the Reserve Bank of New Zealand?
The Reserve Bank of New Zealand (RBNZ) is in Wellington, New Zealand.
Why do forex traders watch the RBNZ?
Interest rates are the price of a currency. When the RBNZ raises or cuts rates — or only hints at it — money moves into or out of the NZD, and NZD/USD reacts within seconds.
Where are the RBNZ’s decisions published?
Official decisions, statements and the meeting calendar are published on https://www.rbnz.govt.nz.
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Other central banks
RBAReserve Bank of Australia
Sydney, Australia — Sets rates for the Australian dollar, the market’s favourite gauge of risk appetite and China demand.
BIBank Indonesia
Jakarta, Indonesia — Guards the rupiah for South-East Asia’s largest economy.
MASMonetary Authority of Singapore
Singapore, Singapore — Steers policy through the exchange rate itself, not an interest rate — a rare model.
BOJBank of Japan
Tokyo, Japan — For decades the anchor of near-zero rates — its every move shakes the yen carry trade.
HKMAHong Kong Monetary Authority
Hong Kong, Hong Kong SAR — Defends the Hong Kong dollar’s peg to the US dollar.
BOKBank of Korea
Seoul, South Korea — Sets rates for the won, one of Asia’s most traded currencies.