But even though our building could be standing after an earthquake, there is a risk that damage to surrounding buildings could make the Wellington office inaccessible. To ensure that the Bank’s core functions can be maintained in such circumstances, an Auckland office has been set up that houses a dozen staff on a day-to-day basis.
The link between money and data will be strengthened further, and the closer link between them will influence the structure of financial services and the economy. Meanwhile, the two-tiered system consisting of the central bank and private entities will be maintained, and monetary policy and the lender of last resort function of central banks will remain effective.