New Zealand Interest Rate

Last Release
Dec 2019
Actual
1 %
Forecast
0.75 %
Previous
1 %
Frequency
Daily
Units In
%
Next Release
Feb 12, 2020
Time to Release
14 Days 10 Hours
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Highest
Lowest
Average
Date Range
Source
67.32 %
Mar 1985
1 %
Aug 2019
7.2 %1985 - 2019Reserve Bank of New Zealand
In New Zealand, interest rates decisions are taken by the Reserve Bank of New Zealand. The official interest rate is the Official Cash Rate (OCR). The OCR was introduced in March 1999 and is reviewed eight times a year by the Bank. The OCR influences the price of borrowing money in New Zealand and provides the Reserve Bank with a means of influencing the level of economic activity and inflation.

Latest Updates

The Reserve Bank of New Zealand unexpectedly kept its official cash rate/OCR unchanged at a record low of 1 percent on November 13th 2019, surprising markets that expected a 25 bps rate cut. Policymakers said that economic developments do not warrant a change to the already stimulatory monetary setting at this time and that they will continue to monitor the evolution of the economy and remain prepared to act as required. The Committee added that interest rates will need to remain at low levels for a prolonged period to ensure inflation reaches the mid-point of the target range and employment remains around its maximum sustainable level.

New Zealand Interest Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Nov 13, 201909:13New Zealand Holds Rates, Leaves Room for Further Easing
Sep 25, 201902:21New Zealand Holds Rates at 1%, Signals More Easing If Needed
Aug 7, 201909:31RBNZ Cuts Rate to Fresh Record Low
Jun 26, 201909:03New Zealand Holds Rates at 1.5%, Signals Further Cuts
May 8, 201904:18New Zealand Cuts Rate to Fresh Record Low of 1.5%
Mar 27, 201910:40New Zealand Leaves Monetary Policy Unchanged
DATETIMEEVENT
Nov 10, 201518:05RBNZ Gov Wheeler Speech
May 12, 201519:05RBNZ Gov Wheeler Speech

A Look at the Markets

Educational Pieces on Marco Indicators

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New Zealand money Indicators

All New Zealand indicators
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Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
Banks Balance Sheet
584,096
Sep 2019
588,551
Aug 2019
236,047
Dec 2004
588,551
Aug 2019
NZD MillionMonthly2004 - 2019
Central Bank Balance Sheet
24,599
Dec 2019
25,185
Nov 2019
7,116
Dec 1994
36,050
Feb 2019
NZD MillionMonthly1993 - 2019
Deposit Interest Rate
1.2
Jan 2020
1.2
Jan 2020
1.02
Sep 2019
16.32
Dec 1986
%Daily1981 - 2020
Foreign Exchange Reserves
26,458
Dec 2019
28,602
Nov 2019
1,029.5
Jul 1983
32,785
Oct 2017
NZD MillionMonthly1983 - 2019
Interbank Rate
1.53
Sep 2019
1.25
Aug 2019
1.25
Aug 2019
24.25
Apr 1987
%Monthly1986 - 2019
Interest Rate
1
Dec 2019
1
Nov 2019
1
Aug 2019
67.32
Mar 1985
%Daily1985 - 2019

Interest Rate across Pacific

Interest Rate global view
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Country
Last
Previous
Min
Max
Unit
Frequency
Range
Australia
0.75
Dec 2019
0.75
Nov 2019
0.75
Oct 2019
17.5
Jan 1990
%Daily1990 - 2019
Fiji
0.5
Dec 2019
0.5
Nov 2019
0.5
Feb 2019
2.5
Dec 2010
%Daily2010 - 2019
New Caledonia
0.25
Dec 2019
0.25
Nov 2019
0.25
Nov 2018
3
Dec 2008
%Daily2008 - 2019
New Zealand
1
Dec 2019
1
Nov 2019
1
Aug 2019
67.32
Mar 1985
%Daily1985 - 2019
Papua New Guinea
5
Dec 2019
5.5
Nov 2019
5
Dec 2019
16
Jul 2003
%Daily2001 - 2019
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