30.04.202603:00:00UTC+00New Zealand’s M3 Money Supply Expands to NZ$455.6B in March, Signaling Ongoing Liquidity Growth

New Zealand’s broad money supply continued to rise in March 2026, with the M3 aggregate increasing to NZ$455.6 billion, up from NZ$445.9 billion in February 2026. The latest figures, updated on 30 April 2026, point to a further expansion in overall liquidity in the financial system.

The March increase in M3— which includes currency in circulation, demand deposits, and longer-term bank liabilities—suggests that monetary conditions remained accommodative through the first quarter of 2026. The nearly NZ$10 billion month‑on‑month rise may reflect ongoing credit creation and deposit growth across households and businesses.

Market participants and analysts are likely to monitor upcoming data releases to assess whether this upward trajectory in broad money continues and what it could imply for credit dynamics, asset prices, and future monetary policy decisions in New Zealand.