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New Zealand Interest Rate

Last Release
Apr 13, 2022
Actual
1.5
Forecast
N/A
Previous
1
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
6.83 %1985-2022Reserve 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 50 bps to 1.5% during the April meeting, compared with expectations of a 25 bps increase. This was the fourth straight rate hike, amid persistently high inflation. The board mentioned that annual CPI is expected to peak around 7% in H1 2022 and the ‘path of least regret’ is to increase the OCR by more now, rather than later, to head off rising inflation expectations. Policymakers added they will remain focused on ensuring that high consumer prices does not become embedded into longer-term expectations. Globally, economic activity continues to generate inflation pressures, amid ongoing supply issues driven by COVID-19. The Russian invasion of Ukraine has added to these challenges, causing prices of commodities and energy to spike. The board noted that the OCR is stimulatory at its current level. On home prices, they have fallen from their recent high and move towards a more sustainable level.

New Zealand Interest Rate History

Last 12 readings

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
666,714
Mar 2022
658,614
Feb 2022
236,047
Dec 2004
666,714
Mar 2022
NZD MillionMonthly2004-2022
Central Bank Balance Sheet
89,480
Apr 2022
91,457
Mar 2022
7,116
Dec 1994
91,457
Mar 2022
NZD MillionMonthly1993-2022
Deposit Interest Rate
1.76
May 2022
1.73
May 2022
-0.12
Dec 2020
16.32
Dec 1986
%Daily1981-2022
Foreign Exchange Reserves
18,237
Apr 2022
23,259
Mar 2022
1,029.5
Jul 1983
39,252
Mar 2020
NZD MillionMonthly1983-2022
Interest Rate
1.5
Apr 2022
1
Mar 2022
0.25
Mar 2020
67.32
Mar 1985
%Daily1985-2022
Loans To Private Sector
117,121
May 2021
116,660
Apr 2021
34,958
Jul 1998
123,422
Apr 2020
NZD MillionMonthly1998-2021
Money Supply M0
9,087
Apr 2022
9,020
Mar 2022
1,081
Jul 1988
213,058
Feb 2017
NZD MillionMonthly1988-2022
Money Supply M1
140,155
Mar 2022
136,841
Feb 2022
1,585.7
Sep 1977
141,425
Dec 2021
NZD MillionMonthly1977-2022
Money Supply M3
390,385
Mar 2022
386,923
Feb 2022
6,726
Mar 1977
391,602
Dec 2021
NZD MillionMonthly1977-2022

Interest Rate across Pacific

Interest Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Australia
0.35
May 2022
0.1
Apr 2022
0.1
Nov 2020
17.5
Jan 1990
% Daily1990-2022
Fiji
0.25
Apr 2022
0.25
Mar 2022
0.25
Mar 2020
2.5
Dec 2010
% Daily2010-2022
New Caledonia
0.25
Mar 2022
0.25
Feb 2022
0.25
Jun 2016
3
Oct 2008
% Daily2008-2022
New Zealand
1.5
Apr 2022
1
Mar 2022
0.25
Mar 2020
67.32
Mar 1985
% Daily1985-2022
Papua New Guinea
3
Mar 2022
3
Feb 2022
3
Apr 2020
16
Jun 2003
% Daily2001-2022

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