New Zealand’s Minister of Finance has published the Reserve Bank of New Zealand’s Five Year Funding Agreement (FYFA), setting the central bank’s core operating expenditure for the period 1 July 2025 through to 31 June 2030 at NZD 750m, with some elements of spending excluded from the agreement. The FYFA document includes a full list of excluded spending. RBNZ’s Board Chair, Neil Quigley, indicated the Bank will use the new funding settings to redesign its way of working and optimise resources, including closer scrutiny of capital and operational expenditure and personnel spending while continuing to deliver on its mandate.
Reserve Bank of New Zealand 2025-04-16
Reserve Bank of New Zealand five-year funding agreement published setting NZD 750m core operating expenditure for 2025-2030
New Zealand’s Minister of Finance has published the Reserve Bank of New Zealand’s Five Year Funding Agreement, setting core operating expenditure at NZD 750 million for 1 July 2025 to 31 June 2030, with some spending excluded. RBNZ’s Board Chair, Neil Quigley, stated the Bank will use the funding to redesign operations and optimize resources while fulfilling its mandate.