The Reserve Bank is mulling the possibility of a “single provider” of cash in this country in the future, perhaps through something like a private-public partnership, Assistant Governor Christian Hawkesby says.
Hawkesby was sharing some of the central bank’s thoughts on the future provision and use of cash in a speech to the Royal Numismatic Society of New Zealand, Annual Conference in Wellington.
He said it has become clear that the cash system as it stands “will not be sustainable in a world where cash is used less and less”.
“This requires a broader response with either a series of changes to the cash system or a transformational redesign of the entire system.”
