question 33

All of the following relate to New Zealand Reserve Bank's influence over interest rates EXCEPT:

Select one:

a. The New Zealand Reserve Bank issues notes and coins to the major banks.

b. If a major bank needs settlement cash, it is able to borrow at a rate of 0.50% below the Official Cash rate from the New Zealand Reserve Bank.

c. The New Zealand Reserve Bank publishes quarterly Monetary Policy Statements.

d. When the New Zealand Reserve Bank carries out contractionary monetary policy, it increases interest rates.

e. Most banks registered in New Zealand have settlement accounts with the New Zealand Reserve Bank.