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New Zealand Narrow Money (M1)
M1 money supply for New Zealand covers the most liquid forms of money: currency in circulation, demand deposits, and other balances immediately convertible to cash. It is published monthly by the Reserve Bank of New Zealand or national statistics agency.
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Why Narrow Money (M1) matters for NZD
Rapid M1 growth can signal future inflationary pressures via the quantity theory of money. Conversely, shrinking M1 may indicate tightening monetary conditions, which reduces inflation risk but also slows economic activity.
How to interpret this series
M1 alone is rarely a primary FX catalyst, but sustained above-trend growth is a medium-term inflation risk and may increase rate-hike probability, supporting the nzd. Contracting M1 is associated with tighter liquidity.
Historical Narrow Money (M1)
Source: RBNZ. Cadence: Monthly. Unit: NZD mn. History from 2016-12-31 (9.5 years).
Recent announcements
Each release gets a durable child page so data, forecast, previous value, and raw fields can be cited directly.
Related New Zealand indicators
Move to adjacent releases in the same macro category.
Broad Money (M3)
M1 + savings + term deposits. RBNZ column A+B (broadest aggregate).
Currency in Circulation
Currency held by the public. M1 sub-component A1.
M2 Money Supply
M1 + savings deposits (on-call). RBNZ derived: column A + B1.
Savings Deposits
On-call savings deposits. M2 incremental component B1.
Term Deposits
Fixed-term deposits. M3 incremental component B2.
Total Domestic Credit
Net credit to central government + private sector credit. RBNZ column C+D.
Transaction Deposits
Demand deposits. M1 sub-component A2.
Common questions
Editorial context for readers and AI agents using this page as a cited country indicator source.
How often is New Zealand Narrow Money (M1) updated?
Narrow Money (M1) for New Zealand is released on a monthly schedule by Reserve Bank of New Zealand (or the relevant national statistics agency). FXMacroData ingests each new value within seconds of the official publication and exposes the exact announcement timestamp on every record.
What unit is Narrow Money (M1) reported in?
The series is published in NZD mn. The exact unit is also returned on every API response under the indicator metadata.
Where does FXMacroData source New Zealand Narrow Money (M1) data?
Data is fetched directly from Reserve Bank of New Zealand or the official national statistics publication for New Zealand. The source URL is preserved on every announcement record so downstream consumers can trace the value back to its primary release.
How do I query Narrow Money (M1) for New Zealand via the API?
Issue a GET request to /api/v1/announcements/nzd/m1?api_key=YOUR_API_KEY. The response contains a chronological list of observations with values, release dates, and announcement timestamps. USD announcement data is public; other currencies require a Professional API key.