An issues paper from the Reserve Bank of New Zealand explores why cash matters—from its place in rites at weddings and funerals to its wider role in supporting an equal society. The Bank also looked at its own responsibility to ensure physical money is available as ‘an anchor for the monetary system’ and ‘a fair and equal way to pay and save’.
The Future of Money – Stewardship paper explains central bank money, banknotes and coins, serves two essential functions: it contributes to financial and social inclusion, and provides a value anchor for the monetary system. It enables people and businesses to transact and reward each other, and is an irreplaceable payment method for those whom banks ‘refuse to accept as customers.’
