New Zealand Interest Rate

Last Release

Aug 20, 2025

Actual

Units In

3.25

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
67.32 Mar 1985	0.25 Mar 2020	6.66 %	1985-2025	Reserve 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

New Zealand’s central bank governor, Christian Hawkesby, said Thursday the future path of the official cash rate (OCR) will depend on how quickly the economy recovers. “While our central projection for OCR is to fall to around 2.50% by the end of the year, that could occur faster or slower depending on how the economic recovery evolves,” he noted in a speech in Auckland. The RBNZ cut the OCR in August to a three-year low of 3.00% and signaled further reductions as domestic and global headwinds weigh on growth. Hawkesby acknowledged it has been a challenging six months for the central bank, marked by the surprise resignation of Governor Adrian Orr in March and the recent departure of chairman Neil Quigley. “Trust and confidence in our economic institutions is what underpins our financial system and supports economic prosperity,” Hawkesby said, stressing the RBNZ remains focused on price stability and financial resilience.