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In that unlikely event, the markets and the media would be given as much warning as possible. The post Why the RBNZ is boosting the CBA share price today … Its important to notice here a few things: 1. Videos of the events are posted to YouTube and to our videos page by the end of the next business day. The Reserve Bank is making sure our financial system continues to work effectively amidst the evolving COVID-19 outbreak. I think we all could have benefited from reading the following article before the announcement. The naming of MPS announcements will remain unchanged. Live-streams of Financial Stability Report media conferences are scheduled to commence at 11am on release day. inflation between 1 and 3 percent on average over the medium term, with a focus Economic Releases Calendar | CME Group Events Calendar | CME Expirations Calendar Update as of 23 June 2020: OCR Announcements Name Change. The New Zealand dollar rallied to US64.10c from US63.3c just before the 2 pm announcement. The Reserve Bank has a range of tools other than the OCR to support the economy. For statistics publication dates see the Statistics release calendar, Explore the financial strength of banks in New Zealand. However, the statement accompanying this decision again noted that more rate cuts will likely be needed in coming months to help push inflation back into the RBNZ's target range of 1.0 percent to 3.0 percent. The Reserve Bank’s balance sheet is growing in response to our initiatives to support monetary and financial stability. The RBNZ maintains an inflationary target range of 1 percent to 3 percent and will change rates to keep it within such a range, making rate decisions fairly predictable. implements monetary policy by setting the Official Cash Rate (OCR), which is RBNZ accidentally discloses decision ahead of monetary policy announcement Back to video In a letter sent to non-bank financial institutions the central bank disclosed its decision to introduce FLP about 45 minutes before it was publicly announced at 2 p.m. local time (0100 GMT), RBNZ said in a statement. ANZ analysis of the Reserve Bank of New Zealand policy announcement today, this in summary: RBNZ today retained a dovish tone about the medium-term … Bernard Hickey comments on the RBNZ MPS announcement today. The RBNZ has shredded its credibility. Opinion. RBNZ introduced a new funding-for-lending programme (FLP) on Nov. 11 that would reduce costs for lenders, while holding its benchmark interest rate at record lows. Update as of 23 June 2020: OCR Announcements Name Change We are changing the name of the “OCR” announcements to “Monetary Policy Review (MPR)” announcements. Or what a loaf of bread worth $4.50 today would’ve been worth in 1986 when adjusted for inflation? The Commonwealth Bank of Australia (ASX:CBA) share price is up after the capital requirement announcement from the RBNZ. Read more information on how the Reserve Bank releases information. This reflects the fact that other tools such as forward guidance and LSAP, not just the OCR, are being deployed to achieve the MPC’s mandate of low and stable inflation and full employment. The Reserve Bank manages monetary policy to maintain price stability, promotes the maintenance of a sound and efficient financial system, and supplies New Zealand banknotes and coins. The RBNZ’s new projections today show the cash rate remaining at 0.25% through the first quarter of 2021, consistent with its previous guidance. RBNZ forecasts assume the cash rate will remain near its current levels until mid-2019 at least. Today's statement, however, repeats officials' assessment that inflation is likely to rise from the current quarter, reflecting the policy stimulus already delivered over the last eighteen months, the strength of the domestic economy, and smaller falls in the price of tradable goods. Rate changes are significant nonetheless, affecting interest rates in consumer loans, mortgages, and bond rates. A guide to how the Reserve Bank of New Zealand releases information including Monetary Policy Statements, Financial Stability Reports and associated media conferences, Official Cash Rate announcements, news releases, speeches, Official Information Act request responses, articles and research and statistics. The capital requirement announcement from the Reserve Bank has a range of tools other than OCR... 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