Money in New Zealand

New Zealand - Money
RBNZ stands pat in February
At its meeting on 24 February, the Reserve Bank of New Zealand (RBNZ) decided to hold the official cash rate (OCR) steady at its record low of 0.25%, and at the same time left the scale of its monetary stimulus program unchanged.
Despite the pickup in activity in recent months, the economic outlook remains highly uncertain due to the evolution of the health crisis and any future containment measures, which prompted the Bank to leave its expansionary monetary policy stance untouched.
Looking ahead, the Bank stroke a prudent tone, stating that it will maintain “its current stimulatory monetary settings until it is confident that consumer price inflation will be sustained at the 2 percent per annum target midpoint, and that employment is at or above its maximum sustainable level”, adding that time will be needed to meet these goals.
The next monetary policy meeting is scheduled for 14 April.
FocusEconomics panelists project that the OCR will end 2021 at 0.01% and 2022 at 0.13%.
New Zealand - Money Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Money (annual variation in %) | 14.2 | 2.1 | - | - | - |
New Zealand Money Chart

Source: Reserve Bank of New Zealand and FocusEconomics calculations.
New Zealand Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 1.67 | 1.20 % | Dec 30 |
Exchange Rate | 0.67 | -1.69 % | Jan 01 |
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Economic News
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New Zealand: Consumer confidence broadly stable in February
March 1, 2021
The ANZ-Roy Morgan consumer confidence indicator dipped to 113.1 in February from January’s 113.9, which had marked the best print in 11 months.
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New Zealand: RBNZ stands pat in February
February 24, 2021
At its meeting on 24 February, the Reserve Bank of New Zealand (RBNZ) decided to hold the official cash rate (OCR) steady at its record low of 0.25%, and at the same time left the scale of its monetary stimulus program unchanged.
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New Zealand: Consumer confidence strengthens in January
February 8, 2021
The ANZ-Roy Morgan consumer confidence indicator rose to 113.8 in January from December’s 112.0.
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New Zealand: Business confidence at over three-year high in February
February 8, 2021
The ANZ bank business outlook indicator rose again in February, recording the highest print since September 2017.
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New Zealand: Unemployment drops in Q4
February 3, 2021
The seasonally-adjusted unemployment rate fell to 4.9% in Q4 from 5.3% in the previous quarter, which had marked the highest print since Q4 2016.