Recent oil price surges from Middle East developments have elevated New Zealand’s headline inflation risks, driving the 57% market-implied probability of a 25 basis point Official Cash Rate increase to 3.00% at the October 28 meeting. The Reserve Bank of New Zealand lifted the OCR by 25 basis points to 2.75% in its September Monetary Policy Statement, citing fuel-driven CPI at 4.1% year-over-year in the June quarter, though core measures stayed within the 1-3% target band. Governor Anna Breman’s September 22 remarks highlighted that persistent higher oil prices could push near-term inflation above the September forecast, while underscoring data dependence and an uneven economic recovery amid labor market slack at 5.6% unemployment. Traders price only a 40% chance of no change, reflecting the balance between inflation persistence and the central bank’s preference for a gradual tightening path ahead of key releases including third-quarter CPI.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · Updated25 bps increase 56%
No change 40%
50+ bps increase <1%
50+ bps decrease <1%
$61,869 Vol.
$61,869 Vol.
50+ bps decrease
<1%
25 bps decrease
<1%
No change
40%
25 bps increase
56%
50+ bps increase
1%
25 bps increase 56%
No change 40%
50+ bps increase <1%
50+ bps decrease <1%
$61,869 Vol.
$61,869 Vol.
50+ bps decrease
<1%
25 bps decrease
<1%
No change
40%
25 bps increase
56%
50+ bps increase
1%
The resolution source will be official information from the Reserve Bank of New Zealand, including the statement or release from its October 2026 meeting, scheduled for October 28, 2026, as listed on the official RBNZ calendar (https://www.rbnz.govt.nz/news-and-events/events). This market may resolve as soon as the statement or release of the Reserve Bank of New Zealand resulting from its October 2026 meeting with relevant data is issued.
If the specified rate is defined by an upper and lower bound, the relevant change will be the change to the upper bound.
If the specified rate is changed to a level not expressed in the displayed options, the change will be rounded according to the following guidelines. Increases or decreases of less than 25 bps will be rounded to 25 bps (e.g. an increase or decrease of 10 bps would be considered to be an increase or decrease of 25 bps). Increases or decreases of greater than 25 bps will be rounded to the nearest 25 bps and will be rounded away from 0 in cases of equidistance (e.g., an increase or decrease of 37.5 bps would be considered to be an increase or decrease of 50 bps). Displayed options of "Increase" or "Decrease" will include policy rate increases or decreases of any size.
If the specified meeting is postponed to a date and time before the start of the next scheduled meeting, this market will resolve based on the outcome of that postponed meeting.
If the specified meeting is cancelled, or postponed such that no decision is announced by the start of the next scheduled meeting, this market will resolve to the "No Change" bracket. Emergency changes to the specified rate not resulting from the specified meeting will not be considered.
Market Opened: Jul 29, 2026, 6:38 PM ET
Resolver
0x69c47De9D...The resolution source will be official information from the Reserve Bank of New Zealand, including the statement or release from its October 2026 meeting, scheduled for October 28, 2026, as listed on the official RBNZ calendar (https://www.rbnz.govt.nz/news-and-events/events). This market may resolve as soon as the statement or release of the Reserve Bank of New Zealand resulting from its October 2026 meeting with relevant data is issued.
If the specified rate is defined by an upper and lower bound, the relevant change will be the change to the upper bound.
If the specified rate is changed to a level not expressed in the displayed options, the change will be rounded according to the following guidelines. Increases or decreases of less than 25 bps will be rounded to 25 bps (e.g. an increase or decrease of 10 bps would be considered to be an increase or decrease of 25 bps). Increases or decreases of greater than 25 bps will be rounded to the nearest 25 bps and will be rounded away from 0 in cases of equidistance (e.g., an increase or decrease of 37.5 bps would be considered to be an increase or decrease of 50 bps). Displayed options of "Increase" or "Decrease" will include policy rate increases or decreases of any size.
If the specified meeting is postponed to a date and time before the start of the next scheduled meeting, this market will resolve based on the outcome of that postponed meeting.
If the specified meeting is cancelled, or postponed such that no decision is announced by the start of the next scheduled meeting, this market will resolve to the "No Change" bracket. Emergency changes to the specified rate not resulting from the specified meeting will not be considered.
Resolver
0x69c47De9D...Recent oil price surges from Middle East developments have elevated New Zealand’s headline inflation risks, driving the 57% market-implied probability of a 25 basis point Official Cash Rate increase to 3.00% at the October 28 meeting. The Reserve Bank of New Zealand lifted the OCR by 25 basis points to 2.75% in its September Monetary Policy Statement, citing fuel-driven CPI at 4.1% year-over-year in the June quarter, though core measures stayed within the 1-3% target band. Governor Anna Breman’s September 22 remarks highlighted that persistent higher oil prices could push near-term inflation above the September forecast, while underscoring data dependence and an uneven economic recovery amid labor market slack at 5.6% unemployment. Traders price only a 40% chance of no change, reflecting the balance between inflation persistence and the central bank’s preference for a gradual tightening path ahead of key releases including third-quarter CPI.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · Updated
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