13 Jan 2015

Reserve Bank wins international award

1:37 pm on 13 January 2015

The Reserve Bank has won an international award for bank of the year.

The award was given annually by a London-based publisher, Central Banking Publications.

It singled out what it called the Reserve Bank's integrated approach to monetary policy to keep inflation in check, combined with its new macro-prudential measures.

These included its restrictions on the amount banks could lend in mortgages to people with less than a 20 percent deposit, as-well-as capital restrictions on banks.

The publisher said the Reserve Bank faced a number of difficult decisions in the past year with the economy growing strongly, the very high currency, strong migration and the risk of house price inflation.

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