Monetary Policy Statement

The Reserve Bank publishes its Monetary Policy Statement (MPS) quarterly. Each Monetary Policy Statement must set out:

how the Reserve Bank proposes to achieve its targets;
how it proposes to formulate and implement monetary policy during the next five years; and
how monetary policy has been implemented since the last Monetary Policy Statement.

Current Monetary Policy Statement

2011: December Monetary Policy Statement (PDF 857KB)
News release, 8 December 2011
Policy assessment (PDF 436KB) by Governor Alan Bollard.
Data for the December 2011 MPS graphs (Excel 984 MB)
Webcast of the media conference.

2011: September Monetary Policy Statement (PDF 389KB)
News release, 15 September 2011
Policy assessment by Governor Alan Bollard. Also available as a PDF (32KB)
Data for the September 2011 MPS graphs (Excel 1.4MB)
Webcast of the media conference.

2011: June Monetary Policy Statement (PDF 569KB)
News release, 9 June 2011
Policy assessment by Governor Alan Bollard. Also available as a PDF (165KB)
Data for the June 2011 MPS graphs (Excel 867KB)
Webcast of the media conference.

2011: March Monetary Policy Statement (PDF 373KB)
News release, 10 March 2010.
Policy assessment (PDF 45KB), by Governor Alan Bollard.
Data for the March 2011 MPS graphs (Excel 698KB).
Webcast of the media conference.

View previous Monetary Policy Statements back to December 1996. Monetary Policy Statements are in PDF format.

Some materials are in Adobe Acrobat PDF format. You can download the free Acrobat PDF reader from the Adobe website.