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New Zealand central bank tightens news release procedures after leak

The ReserveBank of New Zealand will tighten procedures for releasingconfidential information after an investigation confirmed that details of itsMarch decision to cut the official cash rate was leaked by a journalist ahead of the official release.

The central bank said April 14 that it will discontinueembargoed lockups for news media and analysts ahead of an announcement ofinterest rate decisions.

An independent investigation found that information on thecentral bank's decision to cut the official cash rate was sent March 10 toseveral people in the Newshub Mediaworks office by a Newshub reporter from themedia lockup for the policy statement.

RBNZ Governor Graeme Wheeler said the leak created anopportunity for improper gain in the financial markets. However, the centralbank said there was no evidence the leak gave rise to any financial marketimpact.