RBNZ monetary policy, economic indicators, and exchange rates — linked to NZX sector impact. All data from RBNZ, Stats NZ, and FRED (free public sources).
Official Cash Rate decisions since 2019. Current guidance: neutral.
Quarterly GDP change (%). Source: Stats NZ.
How NZX sectors historically respond to macro changes. Based on fundamental analysis of sector characteristics. Use the Screener to filter by macro exposure, or ask the Copilot "which stocks are most OCR-sensitive?"
| Sector | OCR Sensitivity | FX Exposure | Cyclicality | Key Impact |
|---|---|---|---|---|
| Property/REITs | high | low | moderate | Highly leveraged — OCR changes directly affect borrowing costs and property valuations |
| Financials/Banks | high | low | moderate | Net interest margins compress in cutting cycles; credit quality deteriorates in recessions |
| Utilities | moderate | low | low |
Key international benchmarks. Source: FRED (St. Louis Federal Reserve).
Iwi post-settlement governance entities (PSGEs) collectively manage $8.5B+ in assets across property, primary industry, and financial sectors (TDB Advisory 2025). Treaty settlement redress has created significant Māori economic participation in specific NZX-relevant sectors.
| Sector | Sensitivity | Detail |
|---|---|---|
| Primary Industry | high | Treaty settlements transferred fisheries quota, forestry rights, and agricultural land to iwi PSGEs |
| Property | high | Post-settlement iwi entities collectively hold $3B+ in property assets (Ngāi Tahu, Ngāti Whātua Ōrākei, Waikato-Tainui) |
| Energy | moderate | Iwi hold geothermal and renewable energy interests through Treaty settlement cultural/commercial redress |
| Consumer Staples | moderate | Moana NZ (iwi-owned) is a major seafood producer; iwi agricultural operations supply consumer goods chains |
| Financials | moderate | Iwi investment arms manage $8.5B+ collectively (TDB Advisory 2025), significant institutional investor presence |
GET /api/v1/macro-regimeGET /api/v1/macro-indicators?code=NZ_GDP_QOQGET /api/v1/rbnz-policyGET /api/v1/exchange-rates?pair=NZD/USDGET /api/v1/macro-exposure/FPHGET /api/v1/sector-sensitivityget_macro_regimeget_macro_exposureget_macro_history"How will OCR cuts affect RYM?"
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Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
RBNZ OCR decisions, GDP, CPI, and employment releases with dates and actual vs prior values.
Predicted HY/FY reporting dates for all NZX companies based on historical patterns.
AI-scored sentiment analysis of NZX announcements with trend tracking.
| Date | Rate | Change | Type | Notes |
|---|---|---|---|---|
| 20 Aug 2025 | 2.75% | -25bps | MPS | — |
| 9 Jul 2025 | 3% | -25bps | OCR review | — |
| 28 May 2025 | 3.25% | -25bps | MPS | — |
| 9 Apr 2025 | 3.5% | -25bps | MPS | — |
| 19 Feb 2025 | 3.75% | -50bps | MPS | — |
| 27 Nov 2024 | 4.25% | -50bps | MPS | — |
| 9 Oct 2024 | 4.75% | -50bps | MPS | — |
| 14 Aug 2024 | 5.25% | -25bps | MPS | Easing cycle begins |
| 24 May 2023 | 5.5% | +25bps | MPS | Peak approaching |
| 5 Apr 2023 | 5.25% | +50bps | MPS | — |
| 22 Feb 2023 | 4.75% | +50bps | MPS | — |
| 23 Nov 2022 | 4.25% | +75bps | MPS | — |
| 5 Oct 2022 | 3.5% | +50bps | MPS | — |
| 17 Aug 2022 | 3% | +50bps | MPS | — |
| 13 Jul 2022 | 2.5% | +50bps | MPS | — |
Annual CPI change (%). RBNZ target: 1-3%. Source: Stats NZ.
Quarterly unemployment rate (%). Source: Stats NZ.
Key currency pairs. Source: RBNZ.
| Bond proxies — high yields attract investors when rates fall. Defensive in downturns |
| Healthcare | low | high | low | NZD/USD sensitive (FPH, AFT export revenue). Defensive demand — non-discretionary spending |
| Consumer Discretionary | moderate | moderate | high | Directly tied to consumer confidence and employment. First to suffer in recessions |
| Consumer Staples | low | moderate | low | Dairy/FMCG exports affected by NZD. Domestic demand relatively stable |
| Industrials | moderate | moderate | high | Construction/infrastructure linked to building consents and government spend |
| Technology | low | high | moderate | Global revenue in USD — NZD weakness is a tailwind. Growth valuations sensitive to discount rates |
| Energy | moderate | moderate | moderate | Regulated returns (gentailers) provide stability. Industrial demand cyclical |
| Primary Industry | low | high | high | Commodity prices and NZD/USD drive profitability. Dairy GDT price is the key indicator |
| Telecommunications | moderate | low | low | Bond proxy characteristics. Stable subscriber revenue. Capital-intensive — benefits from lower rates |
| All other sectors |
| low |
| Limited direct exposure to iwi economic activity |