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New Zealand Interest Rate

Last Release
Oct 2021
Actual
0.5 %
Forecast
N/A
Previous
0.25 %
Frequency
Daily
Units In
%
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
67.32 %
Mar 1985
0.25 %
Mar 2020
6.89 %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 raised its official cash rate (OCR) by 25 basis points to 0.5% during its October meeting and matching market expectations. It was the first rate hike since June 2014, with policymakers saying the decision was appropriate to maintain low inflation and support maximum employment. The central bank mentioned it was aware that the latest COVID-19 curbs have badly affected some businesses in Auckland and a range of service industries, but New Zealand’s public health is evolving as vaccination rates rise. On inflation outlook, headline inflation is expected to increase above 4% in the near term before returning towards the 2% midpoint over the medium term. The near-term rise in inflation is accentuated by higher oil prices, rising transport costs, and the impact of supply shortfalls. The board added that further removal of stimulus is expected over time, with future moves contingent on the medium-term outlook for inflation and employment.

New Zealand Interest Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Oct 6, 202101:04New Zealand Raises Rate for 1st Time in 7 Years
Aug 18, 202102:10New Zealand Delays Rate Hike amid Fresh Outbreak
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
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
637,042
Aug 2021
643,677
Jul 2021
236,047
Dec 2004
643,677
Jul 2021
NZD MillionMonthly2004 - 2021
Central Bank Balance Sheet
88,816
Aug 2021
84,504
Jul 2021
7,116
Dec 1994
88,816
Aug 2021
NZD MillionMonthly1993 - 2021
Deposit Interest Rate
0.5
Oct 2021
0.42
Oct 2021
-0.12
Dec 2020
16.32
Dec 1986
%Daily1981 - 2021
Foreign Exchange Reserves
22,640
Sep 2021
22,622
Aug 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
0.5
Oct 2021
0.25
Sep 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
Oct 2021
0.1
Sep 2021
0.1
Nov 2020
17.5
Jan 1990
%Daily1990 - 2021
Fiji
0.25
Sep 2021
0.25
Aug 2021
0.25
Mar 2020
2.5
Dec 2010
%Daily2010 - 2021
New Caledonia
0.25
Sep 2021
0.25
Aug 2021
0.25
Nov 2018
3
Dec 2008
%Daily2008 - 2021
New Zealand
0.5
Oct 2021
0.25
Sep 2021
0.25
Mar 2020
67.32
Mar 1985
%Daily1985 - 2021
Papua New Guinea
3
Sep 2021
3
Aug 2021
3
Apr 2020
16
Jul 2003
%Daily2001 - 2021

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