The broadest monetary aggregate, accounting for all New Zealand Dollars in circulation plus bank deposits. As an official measure of the New Zealand 's money supply, M3 will show the immediate impacts of monetary policy actions and can give an indication into the future direction of inflation. An expansion in the monetary base is generally inflationary while a decline will likely have the opposite effect.

Relevance: Rarely affects markets
Release schedule : 3:00 (GMT); monthly, at the end of the following month
Source of report : Reserve Bank of New Zealand
Web Address : http://www.rbnz.govt.nz/index.html
Address of release : http://www.rbnz.govt.nz/statistics/monfin/
Refer C1 Monetary aggregates M3 - M3 (R) excl repos