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New Zealand Interest Rate

Last Release
Mar 2020
Actual
0.25 %
Forecast
0.25 %
Previous
1 %
Frequency
Daily
Units In
%
Next Release
May 13, 2020
Time to Release
1 Months 4 Days 14 Hours
Highest
Lowest
Average
Date Range
Source
67.32 %
Mar 1985
0.25 %
Mar 2020
7.16 %1985 - 2020Reserve 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
DATETIMEEVENTActual
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
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
Banks Balance Sheet
583,610
Dec 2019
580,443
Nov 2019
236,047
Dec 2004
588,551
Aug 2019
NZD MillionMonthly2004 - 2019
Central Bank Balance Sheet
31,302
Feb 2020
30,214
Jan 2020
7,116
Dec 1994
36,050
Feb 2019
NZD MillionMonthly1993 - 2020
Deposit Interest Rate
1.25
Apr 2020
1.25
Apr 2020
1.02
Sep 2019
16.32
Dec 1986
%Daily1981 - 2020
Foreign Exchange Reserves
31,106
Feb 2020
30,042
Jan 2020
1,029.5
Jul 1983
32,785
Oct 2017
NZD MillionMonthly1983 - 2020
Interbank Rate
1.53
Sep 2019
1.25
Aug 2019
1.25
Aug 2019
24.25
Apr 1987
%Monthly1986 - 2019
Interest Rate
0.25
Mar 2020
1
Feb 2020
0.25
Mar 2020
67.32
Mar 1985
%Daily1985 - 2020

Interest Rate across Pacific

Interest Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Australia
0.25
Mar 2020
0.5
Mar 2020
0.25
Mar 2020
17.5
Jan 1990
%Daily1990 - 2020
Fiji
0.25
Mar 2020
0.5
Feb 2020
0.25
Mar 2020
2.5
Dec 2010
%Daily2010 - 2020
New Caledonia
0.25
Feb 2020
0.25
Jan 2020
0.25
Nov 2018
3
Dec 2008
%Daily2008 - 2020
New Zealand
0.25
Mar 2020
1
Feb 2020
0.25
Mar 2020
67.32
Mar 1985
%Daily1985 - 2020
Papua New Guinea
5
Feb 2020
5
Jan 2020
5
Dec 2019
16
Jul 2003
%Daily2001 - 2020

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