The Reserve Bank of New Zealand hosted the 22nd annual Executives' Meeting of East and Asia-Pacific (EMEAP) central banks in Auckland yesterday.

EMEAP is a co-operative forum of eleven central banks and monetary authorities in the East Asia and Pacific region comprising the Reserve Bank of Australia, the People’s Bank of China, the Hong Kong Monetary Authority, Bank Indonesia, the Bank of Japan, the Bank of Korea, Bank Negara Malaysia, the Reserve Bank of New Zealand, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore and the Bank of Thailand.

Governor Graeme Wheeler, who chaired the meeting, said governors exchanged views about recent global economic and policy developments. Discussion focused on the potential impact of global factors on EMEAP monetary policy, as well as recent supply-side developments in EMEAP economies. Governors welcomed the improving prospects for regional growth and noted that EMEAP financial markets have generally functioned well over the past year. Governors emphasised that communication among authorities in the EMEAP region and other parts of the world is especially important at a time when global uncertainty is heightened.

It is the second time the meeting of EMEAP Governors has been held in New Zealand, and follows a meeting of EMEAP Deputies in Auckland in April.

More information read the EMEAP media release