Reserve Bank of New Zealand (RBNZ)

LIVE

19:50ZUS Rates: Climb a mountain and turn around 18:28ZGlobal FX: USD debate corner post mid-terms, payrolls, BoE 17:16ZGlobal Commodities: A surplus of agri risks 16:28ZWill US Stocks Repeat History?16:11ZWhat’s next for the US after the US mid-term elections?14:14ZGlobal Rates: Systematic trading of EUR rates gamma – a new model 14:02ZRobust US jobs market boosts December rate hike chances 13:44ZConsumer resilience 13:41ZMore signs of life in Hungary’s economy 11:45ZCEE & CCA week ahead: Polish GDP and regional inflation data 19:50ZUS Rates: Climb a mountain and turn around 18:28ZGlobal FX: USD debate corner post mid-terms, payrolls, BoE 17:16ZGlobal Commodities: A surplus of agri risks 16:28ZWill US Stocks Repeat History?16:11ZWhat’s next for the US after the US mid-term elections?14:14ZGlobal Rates: Systematic trading of EUR rates gamma – a new model 14:02ZRobust US jobs market boosts December rate hike chances 13:44ZConsumer resilience 13:41ZMore signs of life in Hungary’s economy 11:45ZCEE & CCA week ahead: Polish GDP and regional inflation data

FX BANK FORECAST · COVERAGE

Institutional FX coverage in your inbox

Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 38 institutional desks. No promotion.

RBNZ & the NZD: common questions

Date	Event	Country	Impact	Consensus	Previous
2026-11-10	RBNZ Financial Stability Report	NZ	Med	—	—
2026-11-11	RBNZ Press Conference	NZ	Med	—	—
2026-11-11	Retail Sales MoM (Oct)	NZ	Med	—	-0.4%
2026-11-12	Business NZ PMI (Oct)	NZ	Med	55.8	56.5
2026-11-18	Balance of Trade (Oct)	NZ	Med	-1.2 B	-1.971 B
2026-11-22	Retail Sales QoQ (Q3)	NZ	High	0.1%	-0.5%
2026-11-22	Retail Sales YoY (Q3)	NZ	High	1.6%	3.3%
2026-11-30	ANZ Business Confidence (Nov)	NZ	Med	—	52.5

When is the next RBNZ meeting?

The next Reserve Bank of New Zealand (RBNZ) policy decision is scheduled for Nov 26. Because Reserve Bank of New Zealand sets monetary policy for the NZD, its rate decisions and forward guidance are among the most important scheduled catalysts for NZD exchange rates, and sell-side FX desks reposition their NZD forecasts around each meeting. FX Bank Forecast tracks how the major investment banks' NZD targets shift before and after RBNZ decisions, so you can see whether the consensus is moving with the policy path or diverging from it. Watching the cross-bank reaction to each meeting is often a more durable signal than any single house call.

What is the RBNZ's current policy stance?

Reserve Bank of New Zealand's policy lean is read from its most recent decisions and guidance. A more hawkish stance — biased toward higher-for-longer rates — tends to be supportive of the NZD, while a dovish, easing-biased stance tends to weigh on it, though the market reaction always depends on what was already priced in. What matters for NZD forecasting is less the stance in isolation than how it compares with what investment banks expected and how it shifts the projected rate path. FX Bank Forecast aggregates how 38 major banks read the RBNZ path and translates it into where the NZD consensus and its dispersion sit.

How does the RBNZ affect the NZD?

Monetary-policy expectations are one of the dominant drivers of currency moves, so Reserve Bank of New Zealand's decisions — and, just as importantly, how they compare with other central banks — feed directly into where strategists set their NZD targets. Relative policy paths (the RBNZ versus the Fed and other majors), the pace of cuts or hikes, and the tone of guidance are the channels through which RBNZ actions transmit into the NZD. FX Bank Forecast compares the published NZD forecasts of 38 major investment banks side by side and shows how that consensus — and the spread of views around it — shifts as the RBNZ outlook evolves.

See the NZD bank consensus and how it shifts around RBNZ decisions

Institutional FX coverage in your inbox

Reserve Bank of New Zealand

Meeting Schedule (2026)

Policy-rate trajectory

Upcoming Macro Calendar — New Zealand

Bank Consensus on NZD

Related Coverage

Related FX Research

RBNZ Rate Decision Preview — October 28, 2026: Street Targets 0.60

RBNZ Rate Decision Preview — September 2, 2026: Street Targets 0.60

Recent News on RBNZ

Recent Commentary on RBNZ

FX Daily: A dollar downturn lacks the rate ingredient

FX Daily: Blue wave price action a preview of what’s to come

Deutsche Bank stands alone with RBA hold call as 31 of 32 economists tip a hike

BoJ preview: Hawkish hold

NZ business confidence rises to +53 as pricing intentions hit highest since May

CFTC Positioning — NZD

Firm Coverage

Tech Stocks Rebound But Nasdaq Is Still In Correction Territory

Nasdaq Crashes Through This Key Chart Level; What Should Smart Traders Do Now?

Why tech stocks sank — and what to look out for next

A Toxic Cocktail: 1999 Like Valuations Mixed With 2007's Credit Worries

US consumer sentiment improves in November; worries about AI bubble emerge

RBNZ & the NZD: common questions

When is the next RBNZ meeting?

What is the RBNZ's current policy stance?

How does the RBNZ affect the NZD?