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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 Monetary Policy Statement

Read a summary of what's happening in the economy, download the report, and view the OCR projection graph.

King Charles III coins

The first coin bearing the effigy or image of King Charles III will be the 10 cent coin. These will be in circulation around 2027.

Consultation on basic transaction accounts

CoFR (Council of Financial Regulators) has released a joint Issues Paper on Access to Basic Transaction Accounts. We are now seeking feedback.

Statistics highlights

3.25 %

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

0.60170

GBP

UK pound sterling

0.44415

AUD

Australian dollar

0.92830

EUR

European euro

0.52170

CAD

Canadian dollar

0.81805

JPY

Japanese yen

86.85540

Our latest news

View all news

16 June 2025

Monetary policy affects some parts of the economy differently

A research paper by Magnus Astebol and Nimesh Patel.

12 June 2025

OIAs on Adrian Orr's resignation as Governor

Statement from Reserve Bank of New Zealand – Te Pūtea Matua Chair Neil Quigley.

05 June 2025

New appointment to the RBNZ executive leadership team

Kate Le Quesne has been appointed to the new role of Assistant Governor Enterprise Services.

29 May 2025

10 cent coin with King Charles III image now in production

The Reserve Bank of New Zealand – Te Pūtea Matua has quality checked and approved the 10 cent coin with the effigy of King Charles III, King of New Zealand (KCIII), for production and New Zealanders can expect to see it in their change around 2027.

28 May 2025

OCR lowered to 3.25%

Monetary Policy Statement media release and the MPC’s Record of Meeting, which summarises the committee's discussions, leading to the decision.

21 May 2025

Depositor Compensation Scheme Transitional Provisions Standard published

The Reserve Bank of New Zealand Te Pūtea Matua has published a Transitional Standard, outlining how deposit takers must collect and store customer information in the event of a deposit taker failure so that they can ensure timely payments.