Reserve Bank of New Zealand monetary policy decision is here:

RBNZ policy announcement - says level of stimulus to be reduced

  • Reserve Bank of New Zealand will halt additional LSAP purchases by July 23 2021

From the minutes:

  • committee agreed that economic conditions since late 2020 have been persistently stronger than anticipated.
  • more persistent consumer price inflation pressure is expected to build over time
  • however, the committee noted that uncertainties remain as to the pace and magnitude of any pass-through of costs onto medium term inflation
  • committee agreed that a 'least regrets' policy now implied that the significant level of monetary support in place since mid-2020 could be reduced sooner
  • committee agreed that some monetary stimulus remains necessary to best ensure cpi inflation will be sustained at the 2 percent per annum target midpoint
  • major downside risks of deflation and high unemployment have receded
  • 'least regrets' policy now implied that the significant level of monetary support in place since mid-2020 could be reduced sooner
  • agreed that any future increases in mortgage rates will further dampen house price growth

Link to the RBNZ release: