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RBNZ Official Cash Rate, interest rate central bank New Zealand

Charts - historic RBNZ interest rates

Graph New Zealand interest rate - interest rates last year

Graph New Zealand interest rate - long-term graph

The current New Zealand interest rate (base rate) is 5.500 %

Reserve Bank of New Zealand

The central bank of New Zealand is the RBNZ, or Reserve Bank of New Zealand. The bank is determining the monetary policy and strives to:
  • maintain price stability or a moderate inflation;
  • maintain a solid and efficient financial system.
How to achieve price stability in New Zealand is captured in the Policy Targets Agreement (PTA).

Official Cash Rate (OCR)

When reference is made to the New Zealand interest rate this often refers to the RBNZ Official Cash Rate, OCR. The objective for the inflation level is determined by the RBNZ. The OCR (baserate) is used as a means to achieve this objective. Changing the Official Cash Rate the central bank is influencing the market interest rate. In case of an interest rate increase consumers tend to spend less because saving money is rewarded. At the same time the interest which needs to be paid for a mortgage or loan is increasing as well. When consumers save more or spend less there will be less pressure on prices which results in a decrease on inflationary pressure.

This page shows the current and historic values of the RBNZ Official Cash Rate (OCR).

For a summary of the current interest rates of a large number of central banks please click here.

Tables - current and historic interest rates od the central bank of New Zealand

RBNZ latest interest rate changes

 change date percentage
 may 24 2023 5.500 %
 april 05 2023 5.250 %
 february 22 2023 4.750 %
 november 23 2022 4.250 %
 october 05 2022 3.500 %
 august 17 2022 3.000 %
 july 13 2022 2.500 %
 may 25 2022 2.000 %
 april 13 2022 1.500 %
 february 22 2022 1.000 %

Summary of other central banks’ interest rates

 central bank interest rate region percentage date
 FED interest rate United States 5.250 % 05-03-2023
 RBA interest rate Australia 4.100 % 06-06-2023
 BACEN interest rate Brazil 13.750 % 08-04-2022
 BoE interest rate Great Britain 4.500 % 05-11-2023
 BOC interest rate Canada 4.750 % 06-07-2023
 PBC interest rate China 3.650 % 08-22-2022
 ECB interest rate Europe 3.750 % 05-04-2023
 BoJ interest rate Japan -0.100 % 02-01-2016
 CBR interest rate Russia 7.500 % 09-16-2022
 SARB interest rate South Africa 8.250 % 05-25-2023

In order to be able to show the data on this page, we make use of a large number of sources of information that we believe to be reliable. For more information and our disclaimer, click here.

American interest rate (Fed)5.25 %05-03-2023
Australian interest rate (RBA)4.10 %06-06-2023
British interest rate (BoE)4.50 %05-11-2023
Canadian interest rate (BOC)4.75 %06-07-2023
European interest rate (ECB)3.75 %05-04-2023
Japanese interest rate (BoJ)-0.10 %02-01-2016
All central banks interest rates, click here
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