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Toitū te Ōhanga, Toitū te Oranga

We enable economic wellbeing and prosperity for all New Zealanders.

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May 2025 Financial Stability Report

The Reserve Bank of New Zealand - Te Pūtea Matua has released the May 2025 Financial Stability Report.

Meet the dogs who sniff out cash

As kaitiaki or steward of cash, we've been lending banknotes to the NZ Police and Customs since 2013 to help train their cash-detecting dogs.

2024 General Insurance Industry Stress Test Results

Read the results of the General Insurance Industry Stress Test, assessing the resilience of the insurance sector to severe seismic and cyber risk scenarios.

Statistics highlights

3.50 %

We set the OCR to influence interest rates. We use our influence to keep inflation low and stable.

2.5 y/y%

Consumers Price Index (CPI) inflation occurs when the prices of a range of goods and services rise on average.

USD

United States dollar

0.58910

GBP

UK pound sterling

0.44305

AUD

Australian dollar

0.91975

EUR

European euro

0.52705

CAD

Canadian dollar

0.82300

JPY

Japanese yen

85.49905

Our latest news

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14 May 2025

Examining Māori Access to Capital – Market Failures

A bulletin article published today by The Reserve Bank of New Zealand – Te Pūtea Matua outlines the the barriers Māori face in accessing capital that may be associated with market failures and the initiatives that have been introduced.

07 May 2025

Risks to the financial system have increased

The Reserve Bank of New Zealand - Te Pūtea Matua, has today published the May 2025 Financial Stability Report.

07 May 2025

RBNZ Executive Leadership Team changes

The Reserve Bank of New Zealand – Te Pūtea Matua is consolidating the structure of its Executive Leadership Team (ELT).

06 May 2025

2024 General Insurance Stress Test results published

The 2024 General Insurance Stress Test (GIIST) bulletin published today noted insurers’ resilience in managing claims from an extreme seismic event. It also highlighted the need for a coordinated response across the industry and government to manage such shocks and ensure ongoing insurance availability.

05 May 2025

Rise of the machines: How could artificial intelligence impact financial stability?

Alongside the opportunities provided by artificial intelligence (AI) lie potential risks. This is according to a special topic from the May 2025 Financial Stability Report.

01 May 2025

Reserve Bank publishes response to deposit taker core standards consultation

The response sets out the prudential requirements deposit takers will need to meet in order to be licensed under the Deposit Takers Act 2023 (DTA). It covers liquidity, disclosure and Depositor Compensation Scheme (DCS) related requirements.

01 May 2025

RBNZ research investigates why the ‘natural interest rate’ has fallen in New Zealand over recent decades

The fall in New Zealand’s natural interest rate has been driven mainly by declining labour productivity growth and a lower natural interest rate globally, a Reserve Bank of New Zealand Discussion Paper finds.