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Source: Reserve Bank of New Zealand

Release date

07 February 2020

The Reserve Bank today announced the 2021 dates for releasing its quarterly Monetary Policy Statements (MPS), Official Cash Rate (OCR) decisions, and the six-monthly Financial Stability Reports (FSR).

The release dates for 2020 remain unchanged.

From 2021, the Bank is adopting a new rule for the release dates of MPS and OCR decisions, which includes some flexibility to shift the date in case of conflicts with other important releases or events. This change helps the Reserve Bank fully incorporate the most recent labour market data into its forecasts when the Monetary Policy Committee reviews the economic environment and future prospects.

MPS/OCR review dates will shift to, in principle, around two weeks later compared with the current guidelines. Under this new rule:

  • MPS – Usually fourth Wednesday in February, May, August, and November.
  • OCR – Usually second Wednesday in April, July, and October.
  • Flexibility option – Option to shift dates by up to a week either side of review dates if a conflict arises with other important releases or events.

MPS/OCR review dates will be continuously published on the Reserve Bank’s website at least one year in advance.

Announcements will be made as usual at 2pm for MPS and OCR reviews, and at 9am for FSRs on the dates listed below. These will be published on the Reserve Bank’s website.

Media conferences will be held following the release of each MPS at 3pm and FSR at 11am. They will be live-streamed on the Reserve Bank’s website.

Market implementation of the OCR will continue to be the working day after the monetary policy announcement.

In general, the Reserve Bank reserves the right to make changes to this schedule, if required. In such an event, the markets and the media would be given as much notice as possible.

The 2021 release dates are:

Monetary Policy Statement / Official Cash Rate announcements

  • 24 February – OCR & MPS Media conference & live-stream
  • 14 April – OCR
  • 26 May – OCR & MPS Media conference & live-stream
  • 14 July – OCR
  • Remaining release dates for 2021 will be published at least one year in advance.

Financial Stability Report

  • 5 May – FSR Media conference & live-stream
  • 3 November – FSR Media conference & live-stream

Media contact:
Patrick O.Meara
Senior Adviser External Stakeholders
DDI: +64 4 478 8634 | MOB: +64 21 198 4227
Email: Patrick.O’Meara@rbnz.govt.nz

MIL OSI