Monetary Policy Challenge

Welcome to the Monetary Policy Challenge

The Monetary Policy Challenge (MPC) gives secondary school students an exciting opportunity to put themselves in the shoes of Reserve Bank economists and recommend what the Official Cash Rate could be.

Using the same information as the Reserve Bank, teams assess the economic conditions facing New Zealand and the outlook for inflation. Based upon their assessment of the economy, each team decides on an appropriate setting for the Official Cash Rate.

The Monetary Policy Challenge links to NCEA achievement standard: Economics 3.5 (AS 91403).

Read about how the competition works. For further information please contact us by email or phone (04) 471 3607.

View the MPC Facebook page for more information, tips and reminders about the competition.

2016 National Finalists

The national finalists in the 2016 Monetary Policy Challenge are:

Macleans College

Christ’s College Canterbury

Waikato Diocesan School for Girls

Auckland Grammar School

Scots College

King's College


Congratulations to all the schools that presented. The judges were impressed with the calibre of presentations this year and deciding the overall national finalists was a very difficult task.

Certificates and feedback will be sent to all participants in the next few weeks. We hope to see your school again next year.

All national finalists will present at the national final in Wellington on Thursday 28th July. The Reserve Bank will be in contact with national finalists to organise travel to Wellington.

The national finals will be professionally recorded. The first, second and third placing presentations will be placed on the Bank’s website and YouTube channel as a learning tool for schools to see what standard they need to achieve to win.

For further information on the 2016 MPC national final, please see National Final.

2016 Commendations

The judges would also like to commend the following secondary schools for their impressive performance. Please note these schools will not compete in the national final.

Napier Girl’s High School

St Mary’s College (Wellington)

St Cuthberts College

Otago Boys' High School

Please email if you have any queries.

Monetary Policy Challenge 2015
Monetary Policy Challenge
Monetary Policy Challenge 2015
See what our National Finalists thought of the 2015 competition.


The Monetary Policy Challenge is based on a similar competition, called Target Two Point Zero, run by the Bank of England. The Reserve Bank of New Zealand would like to acknowledge the Bank of England for their help and support in creating the Monetary Policy Challenge competition.