19 February 2026 – The Reserve Bank of New Zealand will increase the number of scheduled monetary policy decisions from 7 to 8 per year, starting in 2027.
The Monetary Policy Committee has discussed the upcoming increase in the frequency of Consumers Price Index (CPI) data releases. From next year, CPI data is set to be published on a monthly basis, rather than quarterly. Due to this, the Committee believes it is appropriate to move to 8 scheduled decisions.
To accommodate an 8 decision schedule, the previously announced February 2027 decision date has been moved a week earlier.
While we have set dates out to February 2028, the Monetary Policy Committee can make unscheduled decisions at any time, should financial or economic conditions warrant it, and have done so in the past.
Our Financial Stability Reports will continue to be released twice a year, in May and November.
Monetary policy and OCR dates
DateAnnouncement
2026
8 April Monetary Policy Review and OCR
27 May Monetary Policy Statement and OCR
8 July Monetary Policy Review and OCR
2 September Monetary Policy Statement and OCR
28 October Monetary Policy Review and OCR
9 December Monetary Policy Statement and OCR
2027
10 FebruaryMonetary Policy Review and OCR
17 MarchMonetary Policy Statement and OCR
5 May Monetary Policy Review and OCR
16 JuneMonetary Policy Statement and OCR
4 AugustMonetary Policy Review and OCR
15 SeptemberMonetary Policy Statement and OCR
27 October Monetary Policy Review and OCR
8 DecemberMonetary Policy Statement and OCR
2028
9 FebruaryMonetary Policy Review and OCR
Financial Stability Report announcement dates
DateAnnouncement
2027
12 MayFSR
10 November FSR
