Reserve Bank of New Zealand to make monetary policy announcements on Wednesday in 2019

The Reserve Bank of New Zealand (RBNZ) is out with a statement, announcing a shift in the timing of the monetary policy decisions from 2019.

Main points from the statement:

“From 2019 monetary policy decisions will be announced the day before they are implemented.

Market implementation of the OCR will continue to be the Thursday of the relevant week.

Monetary policy announcements a day earlier, on Wednesday.

This change helps position the Reserve Bank for the upcoming shift to a decision-making committee structure.

Announcements will be made at 2:00 pm for MPSs and OCR reviews, and at 9:00 am for FSRs on the dates listed below.

Media conferences will be held following the release of each MPS at 3:00 pm and FSR at 11:00 am.”