The Royal Bank of New Zealand (RBNZ) is the country's central bank, responsible for driving the monetary policy to manage economic conditions. The core purpose of the RBNZ is to ensure that the economy has a stable financial system under which it can achieve growth.
The RBNZ makes decisions about the monetary policy and issues the local currency, the NZD.
Who runs the RBNZ?
The government of New Zealand runs the RBNZ to promote financial stability and enable full employment via its monetary policy. For the size of the New Zealand economy, the RBNZ plays an oversized hand in the forex markets.
Since 1985 the NZD has been free-floating on the foreign exchange market and now represents around 2% of global currency traded.