Monetary Policy Statement

RBNZ chief economist Paul Conway says future path for the OCR is conditional on how the economy evolves as some bank economists bring their forecasts for increases forward

RBNZ chief economist Paul Conway says future path for the OCR is conditional on how the economy evolves as some bank economists bring their forecasts for increases forward

Live-stream of the April 2026 RBNZ Official Cash Rate review press conference with Governor Anna Breman

Live-stream of the April 2026 RBNZ Official Cash Rate review press conference with Governor Anna Breman

RBNZ forecasts annual inflation will spike to 4.2% in the June quarter and warns medium-term inflationary pressure will depend on the extent to which higher costs influence price and wage-setting behaviour by firms and workers in the economy

RBNZ forecasts annual inflation will spike to 4.2% in the June quarter and warns medium-term inflationary pressure will depend on the extent to which higher costs influence price and wage-setting behaviour by firms and workers in the economy

Westpac economists see 'a better than even chance' that the RBNZ Governor will in her upcoming speech give a preliminary assessment of how the Middle East shock is impacting the RBNZ's assessment of the monetary policy outlook

Westpac economists see 'a better than even chance' that the RBNZ Governor will in her upcoming speech give a preliminary assessment of how the Middle East shock is impacting the RBNZ's assessment of the monetary policy outlook

'It’s nightmare time for the RBNZ. Supply shocks cannot be handled well by central banks. We have had plenty of recent evidence of this'

'It’s nightmare time for the RBNZ. Supply shocks cannot be handled well by central banks. We have had plenty of recent evidence of this'

Kiwibank economists say the Reserve Bank may well have to tolerate higher inflation in the short term to avoid raising interest rates into a slowing global economy

Kiwibank economists say the Reserve Bank may well have to tolerate higher inflation in the short term to avoid raising interest rates into a slowing global economy

Economists are beginning to flirt with a revolutionary idea - that the New Zealand economy might be able to grow and prosper without the traditional leg-up from the housing market

Economists are beginning to flirt with a revolutionary idea - that the New Zealand economy might be able to grow and prosper without the traditional leg-up from the housing market

In order not to kill our fragile economic recovery, the Reserve Bank's taken something of a calculated gamble that inflation will behave itself

In order not to kill our fragile economic recovery, the Reserve Bank's taken something of a calculated gamble that inflation will behave itself

Governor Anna Breman says Reserve Bank Monetary Policy Committee isn’t planning on hiking the Official Cash Rate ‘until we see more inflationary pressures and a stronger economy’

Governor Anna Breman says Reserve Bank Monetary Policy Committee isn’t planning on hiking the Official Cash Rate ‘until we see more inflationary pressures and a stronger economy’

Live-stream of the February 2026 RBNZ Monetary Policy Statement press conference with Governor Anna Breman

Live-stream of the February 2026 RBNZ Monetary Policy Statement press conference with Governor Anna Breman

Reserve Bank holds the Official Cash Rate at 2.25% and is not forecasting a rise until either late this year or early next

Reserve Bank holds the Official Cash Rate at 2.25% and is not forecasting a rise until either late this year or early next

ASB economists stress the importance of studying 'high frequency' economic data at a time when our official GDP figures are both lagged and containing less reliable data than they did

ASB economists stress the importance of studying 'high frequency' economic data at a time when our official GDP figures are both lagged and containing less reliable data than they did

RBNZ Assistant Governor Karen Silk says Monetary Policy Committee will keep an eye on price setting behaviour and world dynamics that could potentially influence how the Official Cash Rate moves

RBNZ Assistant Governor Karen Silk says Monetary Policy Committee will keep an eye on price setting behaviour and world dynamics that could potentially influence how the Official Cash Rate moves

Assistant Governor Karen Silk on what the RBNZ will be watching before its next OCR review and what new Governor Anna Breman will bring

Assistant Governor Karen Silk on what the RBNZ will be watching before its next OCR review and what new Governor Anna Breman will bring

‘Looks like the last’: While the Reserve Bank has left the door open for further OCR easing, economists say it’s not as wide as many would have expected

‘Looks like the last’: While the Reserve Bank has left the door open for further OCR easing, economists say it’s not as wide as many would have expected