RBNZ may gain new powers to protect access to cash

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New Zealand dollar banknotes

New Zealand dollar banknotes

The Reserve Bank of New Zealand is calling for new powers that would give it a more active role in overseeing the cash system, and could see it issue regulations to protect access to cash.

Like many advanced economies, New Zealand is facing declining cash use across the population in aggregate, but reliance on cash remains high in some groups. The homeless, disabled, elderly and convicted criminals all have a greater reliance on cash. The RBNZ says cash is also particularly important for

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