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Monetary Policy Review and OCR

Monetary Policy Review announcement — including the official cash rate (OCR).

At 2pm we publish:

  • the official cash rate
  • our media release about the Monetary Policy Review.

Monetary Policy Review announcements are made to financial markets at 2pm (NZST) and then to the news media, and via Twitter, the website and email.

We reserve the right to make changes to timing if required due to unexpected developments. In that unlikely event, we would give the markets and the media as much warning as possible.

About the Monetary Policy Review

We use monetary policy to maintain price stability as defined in the remit.

The current remit requires us to keep inflation between 1 and 3% on average over the medium term, with a focus on keeping future average inflation  near the 2% target midpoint and supporting maximum sustainable employment.

We implement monetary policy by setting the official cash rate (OCR), which is reviewed seven times a year.

See where we publish the Monetary Policy Review news release