Reserve Bank of New Zealand
News Release
12 June 2006
Reserve Bank history book released
The Reserve Bank history book 'Innovation and Independence: the Reserve Bank of New Zealand 1973-2002', has been
published by Auckland University Press.
The book, covering the recent history of the Reserve Bank, is written by John Singleton, and co-authors Gary Hawke and
Arthur Grimes.
The authors note that in several key areas, the Reserve Bank has been at the forefront of thinking in central banking.
The Reserve Bank was the first bank in the world to define its statutory autonomy around a contractual relationship
between Governor and Government. It was also the first bank to adopt inflation targeting, an approach to monetary policy
since adopted by more than 25 nations worldwide.
The book has been produced in conjunction with the History Group of the Ministry of Culture and Heritage.
The book will be officially launched at a function in Wellington on 13 June 2006.
ENDS