Reserve Bank of New Zealand meeting —

At its 8 April 2026 meeting, the Reserve Bank of New Zealand held its policy rate at 2.25%.

Decision

hold — 2.25% to 2.25%

Key passages

The Monetary Policy Committee today agreed to hold the OCR at 2.25 percent.

Rates unchanged as expected, but context of supply shock makes hold a cautious signal.

The Committee is vigilant to any generalised inflationary pressure and stands ready to act to return inflation to its medium-term target.

Signal that committee is ready to hike if inflation broadens, reinforcing tightening bias.

Meeting documents

Background reading

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