Key data points
Last release
—
Observation period
Oct 9, 2024
Next release
—
Forecast
—
Highest
67.32% on Mar 29, 1985
Lowest
0.25% on Sep 30, 2021
About New Zealand interest rate
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.
Related indicators
Frequently Asked Questions
New Zealand interest rate is 4.75% at the moment.
Last month New Zealand interest rate was 4.75%, and the month before that it amounted to 5.25%.
Interest rate is the proportion of a loan that is charged as interest to the borrower, typically an annual percentage of the loan outstanding. When it comes to the national level, interest rate is a rate at which banks borrow money from a country's central bank.
Yes, negative interest rate can be used by the government as a monetary policy tool to stimulate economy growth.
Growing or falling interest rate can influence the country's economy, stimulate it or lower the inflation level. Even people can feel the effect of interest rate's movements — for example, if interest rate increases, loans get more expensive.