Figure 3: Neutral interest rate estimates  Source: Reserve Bank of New Zealand estimates. See Richardson and Williams (2015) for discussion of the various estimation approaches. Note: Data availability means that the full suite of indicators cannot be provided in the latest quarter. 7 Ball, Groshenny, Karagedikli, Ozbilgin, and Robinson (forthcoming). 8 Reserve Bank of New Zealand (2019).
At the same time, the Bank of Israel worked to strengthen the capital buffers in the banking system in order to increase its resilience to crises, and increased the foreign exchange reserves to around 30 percent of GDP in order to strengthen the economy’s financial safety buffer.