March 2008 Reserve Bank Bulletin released

Reserve Bank Email Service

NEWS RELEASE
Date 28 March 2008
Time 9.30am

March 2008 Reserve Bank Bulletin released

The Reserve Bank today released the March 2008 issue of the Reserve Bank
of New Zealand Bulletin.

The latest edition of the Reserve Bank Bulletin focuses on the theme of
money and credit. Money and credit are a vital part of the economy, and
essential to the performance of the Reserve Bank's duties.

The first of four articles relating to money looks at how the use of
money and credit measures in monetary policy has evolved over recent
decades. The article discusses how credit markets are receiving
increased attention from policymakers, especially currently. This
increased attention is due in part to the growing importance of the
interaction between monetary policy and financial stability, and the
increasing sophistication and international interconnectedness of the
financial system.

The second article discusses recent trends and developments in the use
of notes and coins in New Zealand, and in the Reserve Bank's currency
operations.

The third article discusses some of the trade-offs and challenges the
Reserve Bank faces in producing financial statistics, and some future
directions for its activities in this area.

The final article discusses how the financial system creates money and
credit, and the role that this process plays in the economy and in
monetary policy.

This edition of the Bulletin also provides a short summary of a recent
conference held by The Treasury and the Reserve Bank on the theme of the
business cycle, housing and the role of policy.

Finally, an updated chronology lists key economic and financial events
that shaped the conduct of the Reserve Bank's business over 2007.

You can read the Bulletin at the following link:
http://www.rbnz.govt.nz/research/bulletin/

ENDS

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