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New Zealand Interest Rate

Last Release
Jul 2021
Actual
0.25 %
Forecast
0.5 %
Previous
0.25 %
Frequency
Daily
Units In
%
Next Release
Aug 18, 2021
Time to Release
25 Days 9 Hours
Highest
Lowest
Average
Date Range
Source
67.32 %
Mar 1985
0.25 %
Mar 2020
6.93 %1985 - 2021Reserve 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 held its official cash rate (0CR) at a record low of 0.25% during its July meeting but decided to halt additional asset purchases under the Large Scale Asset Purchase programme by July 23th, 2021. Policymakers said some monetary stimulus remains necessary but its level could be reduced to minimize the risk of not meeting consumer price and employment objectives over the medium-term. They reiterated there will be near-term spikes in CPI inflation in Q2 and Q3, amid factors that are either one-off in nature or expected to be temporary. The committee agreed that more persistent consumer price inflation pressure is expected to build over time. The board added recent data indicate the economy remains robust despite the ongoing impact of international border restrictions. Aggregate economic activity is above its pre-COVID-19 level, with household spending and construction output at high levels.

New Zealand Interest Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Jul 14, 202102:07New Zealand Holds Rates, Reduces Stimulus
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

New Zealand money Indicators

All New Zealand indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
Banks Balance Sheet
638,463
May 2021
630,135
Mar 2021
236,047
Dec 2004
638,463
May 2021
NZD MillionMonthly2004 - 2021
Central Bank Balance Sheet
84,122
Jun 2021
81,371
May 2021
7,116
Dec 1994
85,328
Apr 2021
NZD MillionMonthly1993 - 2021
Deposit Interest Rate
0.1
Jul 2021
0.12
Jul 2021
-0.12
Dec 2020
16.32
Dec 1986
%Daily1981 - 2021
Foreign Exchange Reserves
19,977
Jun 2021
18,795
May 2021
1,029.5
Jul 1983
39,252
Mar 2020
NZD MillionMonthly1983 - 2021
Interbank Rate
1.53
Sep 2019
1.25
Aug 2019
1.25
Aug 2019
24.25
Apr 1987
%Monthly1986 - 2019
Interest Rate
0.25
Jul 2021
0.25
Jun 2021
0.25
Mar 2020
67.32
Mar 1985
%Daily1985 - 2021

Interest Rate across Pacific

Interest Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Australia
0.1
Jul 2021
0.1
Jun 2021
0.1
Nov 2020
17.5
Jan 1990
%Daily1990 - 2021
Fiji
0.25
Jun 2021
0.25
May 2021
0.25
Mar 2020
2.5
Dec 2010
%Daily2010 - 2021
New Caledonia
0.25
Jun 2021
0.25
May 2021
0.25
Nov 2018
3
Dec 2008
%Daily2008 - 2021
New Zealand
0.25
Jul 2021
0.25
Jun 2021
0.25
Mar 2020
67.32
Mar 1985
%Daily1985 - 2021
Papua New Guinea
3
Jul 2021
3
Jun 2021
3
Apr 2020
16
Jul 2003
%Daily2001 - 2021

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