New Zealand
New Zealand's central bank targets inflation and prices as their market methodology. The only method to manage an inflation target is through the Consumer Price Index to ensure prices are aligned with inflation. Bank reserves must then be further managed so targets are properly aligned and this is done through repo markets.
The Official Cash Rate (OCR) is the top benchmark interest rate in New Zealand. New Zealand's repo market began in 1994. Since 1990, market trades had cleared through Austraclear but the June 2010 introduction of NZ Clear means that New Zealand now conducts repo operations. NZ Clear serves as a real-time settlement system while New Zealand's central bank, the Royal Bank of New Zealand (RBNZ) owns and manages the ...
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