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We are Aotearoa New Zealand's central bank

The Reserve Bank of New Zealand – Te Pūtea Matua

We aim to keep prices stable, maintain cash supplies and protect the stability of our financial system.

Official Cash Rate

3.25 %

Updated: 2:00pm, 28 May

Next update: 2:00pm, 09 Jul

Inflation

2.5 y/y%

Updated: 3:00pm, 17 Apr

Next update: 3:00pm, 21 Jul

Exchange Rates

Find currency exchange rate of the New Zealand dollar (NZD) compared to various major international currencies.

Motuhake

Featured

King Charles on 10 cent coin

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.

Inflation calculator

Use our inflation calculator to check how prices in Aotearoa New Zealand have changed over time from 1862 to today.
OCR icon

Past OCR decisions

See a timeline of our past monetary policy and OCR announcements.

Ngā kaupapa nui

Events

View all events
09 Jul 2025

July Monetary Policy Review and OCR

Wed • 2:00 - 3:00 PM
20 Aug 2025

August Monetary Policy Statement and OCR

Wed • 2:00 - 4:00 PM
08 Oct 2025

October Monetary Policy Review and OCR

Wed • 2:00 - 3:00 PM
05 Nov 2025

November Financial Stability Report

Wed • 9:00 - 2:00 PM
26 Nov 2025

November Monetary Policy Statement and OCR

Wed • 2:00 - 4:00 PM

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News

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Monetary policy affects some parts of the economy differently

A research paper by Magnus Astebol and Nimesh Patel. 
OIAs on Adrian Orr's resignation as Governor

Statement from Reserve Bank of New Zealand – Te Pūtea Matua Chair Neil Quigley.
New appointment to the RBNZ executive leadership team

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

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.
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.