Christian Hawkesby: New Zealand's experience with macroprudential policy

Panel remarks by Mr Christian Hawkesby, Deputy Governor and General Manager of Financial Stability of the Reserve Bank of New Zealand, delivered to the Central Bank of Ireland, 27 April 2022.

Central bank speech  | 
28 April 2022

Kia ora koutou katoa and thank you for inviting me to be a part of this panel on an important topic. For me, it is a great opportunity to listen and learn from the experiences of the other the panel members with macroprudential policy in their countries. In return, I was planning to share our experience in New Zealand. In particular:

  • the issues that motivated the introduction of macroprudential tools;
  • the actions we have taken to adjust their settings through time;
  • the lessons we have learned from their use along the way; and
  • the next steps we are planning to take in this space.