{
  "data": {
    "id": "reserve-bank-of-new-zealand-2026-02-18",
    "bank": "reserve-bank-of-new-zealand",
    "bankName": "Reserve Bank of New Zealand",
    "country": "NZ",
    "date": "2026-02-18",
    "announceAt": "2026-02-18T01:00:00Z",
    "timezone": "Pacific/Auckland",
    "dateStatus": "published",
    "movedFrom": null,
    "rateBefore": 2.25,
    "step": 0.25,
    "calendarSource": "https://www.rbnz.govt.nz/monetary-policy/monetary-policy-decisions",
    "citation": "Decision date listed in the RBNZ past monetary policy decisions table (the current schedule page starts at April 2026); the RBNZ releases monetary policy and OCR decisions at 2pm New Zealand time (https://www.rbnz.govt.nz/news-and-events/how-we-release-information), here NZDT, UTC+13.",
    "settleSource": {
      "role": "decision-statement",
      "pattern": "https://www.rbnz.govt.nz/news-and-events/news/<YYYY>/<MM>/<free-text slug> (e.g. ocr-held-at-2-25-percent)",
      "foundAt": "https://www.rbnz.govt.nz/monetary-policy/monetary-policy-decisions",
      "example": "https://www.rbnz.govt.nz/news-and-events/news/2026/09/ocr-increased-by-25-basis-points-to-2-75",
      "resolvable": false,
      "reads": {
        "right": 0,
        "wrong": 0,
        "void": 0
      }
    },
    "observed": {
      "at": "2026-02-18T01:00:00Z",
      "rateBefore": 2.25,
      "rateAfter": 2.25,
      "direction": "hold",
      "statement": "https://www.rbnz.govt.nz/news-and-events/news/2026/02/ocr-on-hold-at-2-25-with-inflation-expected-to-fall",
      "observed": true
    },
    "page": "https://macroindex.org/bank/reserve-bank-of-new-zealand/decision/2026-02-18",
    "account": {
      "summary": "The Reserve Bank of New Zealand held the Official Cash Rate at 2.25%.",
      "vote": "consensus",
      "reasons": [
        "The Monetary Policy Committee said annual consumer price inflation was slightly above its 1 to 3% target band at the end of 2025, driven mainly by food and electricity prices and local council rates.",
        "It said it was confident inflation would fall to the 2% midpoint over the next 12 months because of spare capacity in the economy, modest wage growth and core inflation within the target band.",
        "The Committee noted that the economy was at an early stage of recovery, with unemployment still elevated and households cautious in their spending."
      ],
      "guidance": "The Committee said monetary policy was likely to remain accommodative for some time if the economy evolves as expected, with settings normalising gradually as the recovery strengthens.",
      "quote": "If the economy evolves as expected, monetary policy is likely to remain accommodative for some time.",
      "links": [
        {
          "label": "Monetary Policy Statement (PDF)",
          "url": "https://www.rbnz.govt.nz/-/media/project/sites/rbnz/files/publications/monetary-policy-statements/2026/feb-180226/mps_report_feb2026.pdf"
        }
      ],
      "readFrom": [
        "https://www.rbnz.govt.nz/news-and-events/news/2026/02/ocr-on-hold-at-2-25-with-inflation-expected-to-fall"
      ],
      "at": "2026-10-10"
    }
  },
  "meta": {
    "dataset_version": "2026-10-10.30752eb2",
    "built_at": "2026-10-10T18:04:32Z",
    "generated_at": "2026-10-10T20:40:03.424Z",
    "licence": "CC BY 4.0: credit \"Macro Index\" and link to the site",
    "docs": "https://macroindex.org/openapi.json"
  }
}