New Zealand Interest Rate
The official cash rate (OCR), the interest rate the Reserve Bank of New Zealand sets to steer borrowing costs.
2.75%
Matches the latest releaseNot refreshed recently, awaiting the next release
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Apr 1999 to Sep 2026
Source: BIS central bank policy rates (WS_CBPOL, M.NZ, extended with the daily series D.NZ) · the Reserve Bank of New Zealand's official cash rate, end of month, from April 1999; the current month shows the latest rate.
New Zealand Interest Rate in context
Worked out from the published series shown above.
In New Zealand, the interest rate fell by 0.25pp over the year to Sep 2026, from 3.00% in Sep 2025.
Over the past five years it has ranged from 0.25% in Sep 2021 to 5.50% in May 2023.
Its average since Apr 1999 is 3.87%, and the latest reading is below that.
New Zealand is 4th of 16 countries in our Interest Rate by Country ranking.
How this series is defined
Everything you need to check the figure against the source.
- Source
- BIS central bank policy rates (WS_CBPOL, M.NZ, extended with the daily series D.NZ)
- Series
- See the citation below
- Frequency
- Monthly
- Unit
- %
- Seasonal adjustment
- Not applicable, interest rates are not seasonally adjusted
- Latest observation
- Sep 2026
- Revision status
- Latest published estimate, subject to revision
The history starts in April 1999, the first full month of the OCR; the BIS series runs back further using the overnight cash rate it replaced, which is not shown.
Data refreshed 2026-10-07. Figures are the latest published observations and can be revised.
More New Zealand indicators
Latest readings. Open any one for its full history.
Rankings
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