The facts

  1. Annual consumer-price inflation was 3.7% in the September quarter, down from 4.1% in June. The bank forecasts 4.4% in the December quarter, with fuel prices a major source of uncertainty. [1]

  2. The committee said tighter policy was likely to be required, conditional on the economic outlook. It cited risks both from persistent inflation and a possible global downturn. [1]

  3. In a New Zealand Herald interview reported by Reuters on 29 October, Governor Anna Breman described the chances of a December increase as high while stressing that timing depends on inflation and the outlook. [2]

Still unconfirmed

  • A December rate increase has not been decided.

Sources

References support the numbered facts above. Source checks: 29 Oct 2026, 02:05 UTC.

  1. OCR held at 2.75% and summary record

    Reserve Bank of New Zealand · Primary source · 28 Oct 2026

  2. Governor says chances of December hike are high

    Reuters, via MarketScreener · Reporting · 29 Oct 2026

    Actual Reuters report checked. Its interview account is attributed to the New Zealand Herald; no precise exchange-rate move is asserted.

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