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New Zealand Interest Rate
Last Release
Apr 2021
Actual
0.25 %
Forecast
0.25 %
Previous
0.25 %
Frequency
Daily
Units In
%
Next Release
May 26, 2021
Time to Release
1 Months 10 Days 14 Hours
Highest | Lowest | Average | Date Range | Source |
67.32 % Mar 1985 | 0.25 % Mar 2020 | 6.97 % | 1985 - 2021 | 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
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
News
All News| DATE | TIME | TITLE |
|---|---|---|
| Nov 13, 2019 | 09:13 | New Zealand Holds Rates, Leaves Room for Further Easing |
| Sep 25, 2019 | 02:21 | New Zealand Holds Rates at 1%, Signals More Easing If Needed |
| Aug 7, 2019 | 09:31 | RBNZ Cuts Rate to Fresh Record Low |
| Jun 26, 2019 | 09:03 | New Zealand Holds Rates at 1.5%, Signals Further Cuts |
| May 8, 2019 | 04:18 | New Zealand Cuts Rate to Fresh Record Low of 1.5% |
| Mar 27, 2019 | 10:40 | New Zealand Leaves Monetary Policy Unchanged |
Calendar
ECONOMIC CALENDAR| DATE | TIME | EVENT | Actual |
|---|---|---|---|
| Nov 10, 2015 | 18:05 | RBNZ Gov Wheeler Speech | |
| May 12, 2015 | 19:05 | RBNZ Gov Wheeler Speech |
New Zealand money Indicators
All New Zealand indicatorsIndicator | Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|---|
| Banks Balance Sheet | 627,962 Feb 2021 | 621,339 Oct 2020 | 236,047 Dec 2004 | 630,653 Apr 2020 | NZD Million | Monthly | 2004 - 2021 |
| Central Bank Balance Sheet | 78,401 Feb 2021 | 74,824 Jan 2021 | 7,116 Dec 1994 | 78,401 Feb 2021 | NZD Million | Monthly | 1993 - 2021 |
| Deposit Interest Rate | 0.25 Apr 2021 | 0.25 Apr 2021 | -0.12 Dec 2020 | 16.32 Dec 1986 | % | Daily | 1981 - 2021 |
| Foreign Exchange Reserves | 18,154 Mar 2021 | 18,056 Feb 2021 | 1,029.5 Jul 1983 | 39,252 Mar 2020 | NZD Million | Monthly | 1983 - 2021 |
| Interbank Rate | 1.53 Sep 2019 | 1.25 Aug 2019 | 1.25 Aug 2019 | 24.25 Apr 1987 | % | Monthly | 1986 - 2019 |
| Interest Rate | 0.25 Apr 2021 | 0.25 Mar 2021 | 0.25 Mar 2020 | 67.32 Mar 1985 | % | Daily | 1985 - 2021 |
Interest Rate across Pacific
Interest Rate global viewCountry | Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|---|
| Australia | 0.1 Apr 2021 | 0.1 Mar 2021 | 0.1 Nov 2020 | 17.5 Jan 1990 | % | Daily | 1990 - 2021 |
| Fiji | 0.25 Mar 2021 | 0.25 Feb 2021 | 0.25 Mar 2020 | 2.5 Dec 2010 | % | Daily | 2010 - 2021 |
| New Caledonia | 0.25 Feb 2021 | 0.25 Jan 2021 | 0.25 Nov 2018 | 3 Dec 2008 | % | Daily | 2008 - 2021 |
| New Zealand | 0.25 Apr 2021 | 0.25 Mar 2021 | 0.25 Mar 2020 | 67.32 Mar 1985 | % | Daily | 1985 - 2021 |
| Papua New Guinea | 3 Feb 2021 | 3 Jan 2021 | 3 Apr 2020 | 16 Jul 2003 | % | Daily | 2001 - 2021 |