With the Kiwi OCR set to drop yet further, the Reserve Bank of New Zealand is taking another look at non-standard policy measures it could turn to once it has exhausted its conventional policy armoury, reports Bloomberg. In an OIA response, the RBNZ told the news agency it "has begun scoping a project to refresh our unconventional monetary policy strategy and implementation. This is at a very early stage." It declined to release any of the information requested by Bloomberg on the grounds it could prejudice New Zealand's economic interests. However, in a paper on unconventional policy published last year, the RBNZ canvassed five options: negative interest rates; forward guidance; quantitative easing; term lending to banks; and purchasing interest-rate swaps. Culture and governance are the clear priorities for the NZ Financial Markets Authority. The regulator has released its Annual Corporate Plan (ACP) outlining its work plan for the next financial year and its objectives for raising standards of behaviour across financial services. Focusing on four sectors (Capital Markets/ Investment Management/ Sales, Advice and Distribution/ Banking and Insurance) the FMA's strategic priorities are: governance culture, systems and controls; credible deterrence of misconduct; successful implementation of potential remit changes; investor and customer decision-making; promoting trust and confidence in capital markets.