Monetary Policy Statement

What really changed in last week's Official Cash Rate review? Mostly it was about getting Kiwis in the right frame of mind to drive an economic recovery

What really changed in last week's Official Cash Rate review? Mostly it was about getting Kiwis in the right frame of mind to drive an economic recovery

Reserve Bank admits surprise that house prices have not been increasing - but points out only about half the impact of interest rate cuts made so far has fed through into the economy

Reserve Bank admits surprise that house prices have not been increasing - but points out only about half the impact of interest rate cuts made so far has fed through into the economy

‘Game on!’: Economists get more than they expect from the Reserve Bank as it makes a 'bold' move projecting the Official Cash Rate to go as low as 2.5%

‘Game on!’: Economists get more than they expect from the Reserve Bank as it makes a 'bold' move projecting the Official Cash Rate to go as low as 2.5%

Live-stream of the August 2025 RBNZ Monetary Policy Statement press conference with Governor Christian Hawkesby

Live-stream of the August 2025 RBNZ Monetary Policy Statement press conference with Governor Christian Hawkesby

When doves fly: Reserve Bank sees potential for two further OCR cuts by early next year and warns cautious behaviour by households and businesses could further dampen economic growth; Hawkesby has applied for RBNZ Governor job

When doves fly: Reserve Bank sees potential for two further OCR cuts by early next year and warns cautious behaviour by households and businesses could further dampen economic growth; Hawkesby has applied for RBNZ Governor job

Live-stream of the May 2025 RBNZ Monetary Policy Statement press conference with Governor Christian Hawkesby

Live-stream of the May 2025 RBNZ Monetary Policy Statement press conference with Governor Christian Hawkesby

Reserve Bank cuts OCR to 3.25% and indicates there may be one more cut this year - bank economists may have expected and hoped for more; RBNZ's GDP forecasts for this year cut

Reserve Bank cuts OCR to 3.25% and indicates there may be one more cut this year - bank economists may have expected and hoped for more; RBNZ's GDP forecasts for this year cut

Live-streamed video from the February 2025 RBNZ Monetary Policy Statement press conference with Governor Adrian Orr

Live-streamed video from the February 2025 RBNZ Monetary Policy Statement press conference with Governor Adrian Orr

Reserve Bank cuts OCR to 3.75% and indicates room for more cuts than earlier forecast this year; economists say 'we are all on the same page now'

Reserve Bank cuts OCR to 3.75% and indicates room for more cuts than earlier forecast this year; economists say 'we are all on the same page now'

The Reserve Bank will have to deliver more interest rate cuts than it has signalled this year, or the risk of further job losses will only grow, Kiwibank economists say

The Reserve Bank will have to deliver more interest rate cuts than it has signalled this year, or the risk of further job losses will only grow, Kiwibank economists say

RBNZ chief economist Paul Conway sees dominance of the 'traditional drivers of growth' in the New Zealand economy coming to an end

RBNZ chief economist Paul Conway sees dominance of the 'traditional drivers of growth' in the New Zealand economy coming to an end

RBNZ chief economist Paul Conway says the central bank will have to 'feel its way' as the OCR gets closer to its estimate of neutral and he doesn't see a return to 'ultra-low' rates seen during the early stages of the pandemic any time soon

RBNZ chief economist Paul Conway says the central bank will have to 'feel its way' as the OCR gets closer to its estimate of neutral and he doesn't see a return to 'ultra-low' rates seen during the early stages of the pandemic any time soon

HSBC economists expect the Official Cash Rate to be down to 3% by the third quarter of this year and see the economy growing 1.8% in 2025 and 2.5% next year

HSBC economists expect the Official Cash Rate to be down to 3% by the third quarter of this year and see the economy growing 1.8% in 2025 and 2.5% next year

Economists see latest NZIER Quarterly Survey of Business Opinion as clearing the way for a further substantial cut to the Official Cash Rate next month

Economists see latest NZIER Quarterly Survey of Business Opinion as clearing the way for a further substantial cut to the Official Cash Rate next month

Kiwibank chief economist Jarrod Kerr is forecasting that the OCR will be cut to 3% next year and says rates were too high for too long

Kiwibank chief economist Jarrod Kerr is forecasting that the OCR will be cut to 3% next year and says rates were too high for too long