The Reserve Bank of New Zealand is New Zealand’s central bank. The RBNZ promotes a sound and dynamic monetary and financial system. It works towards:
- Operating monetary policy to achieve and maintain price stability and support maximum sustainable employment
- Assisting the functioning of a sound and efficient financial system
- Meeting the currency needs of the public
- Overseeing and operating effective payments systems
- Providing effective support services to the Bank
The Reserve Bank Of New Zealand uses monetary policy to maintain price stability as defined in the Remit. The current Remit requires the RBNZ to keep inflation between 1 and 3 percent on average over the medium term, with a focus on keeping future average inflation near the 2 percent target midpoint and supporting Maximum Sustainable Employment. The Bank implements monetary policy by setting the Official Cash Rate (OCR), which is reviewed seven times a year.
The Monetary Policy Committee (MPC) is responsible for formulating monetary policy directed at achieving the economic objectives of price stability and support of maximum sustainable employment.
Frequency of Meeting
Once or twice a month
Learn more about the RBNZ & how they determine Monetary Policy
About Monetary Policy
Official Cash Rate Decisions
MONETARY POLICY COMMITTEE:
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