DeutschBanks / New Zealand
Reserve Bank of New Zealand: decision history
Policy rate: Official Cash Rate (OCR)
Every observed decision and the rate series. The facts below are computed from observed decisions only, never from the calendar.
35days since the last change (2 Sept 2026)
0consecutive holds
12observed decisions since 19 Feb 2025
Past moves by size
- 25 bp raise ×2
- hold ×4
- 50 bp cut ×2
- 25 bp cut ×4
Observed decisions
| Date | Decision | Before | After | Change | Statement |
|---|---|---|---|---|---|
| raise | 2.50% | ↑2.75% | +25 bp | rbnz.govt.nz/news-and-events/news/2026/09/… | |
| raise | 2.25% | ↑2.50% | +25 bp | rbnz.govt.nz/news-and-events/news/2026/07/… | |
| hold | 2.25% | =2.25% | 0 bp | rbnz.govt.nz/news-and-events/news/2026/05/… | |
| hold | 2.25% | =2.25% | 0 bp | rbnz.govt.nz/news-and-events/news/2026/04/… | |
| hold | 2.25% | =2.25% | 0 bp | rbnz.govt.nz/news-and-events/news/2026/02/… | |
| cut | 2.50% | ↓2.25% | −25 bp | rbnz.govt.nz/news-and-events/news/2025/11/… | |
| cut | 3.00% | ↓2.50% | −50 bp | rbnz.govt.nz/news-and-events/news/2025/10/… | |
| cut | 3.25% | ↓3.00% | −25 bp | rbnz.govt.nz/news-and-events/news/2025/08/… | |
| hold | 3.25% | =3.25% | 0 bp | rbnz.govt.nz/news-and-events/news/2025/07/… | |
| cut | 3.50% | ↓3.25% | −25 bp | rbnz.govt.nz/news-and-events/news/2025/05/… | |
| cut | 3.75% | ↓3.50% | −25 bp | rbnz.govt.nz/news-and-events/news/2025/04/… | |
| cut | 4.25% | ↓3.75% | −50 bp | rbnz.govt.nz/news-and-events/news/2025/02/… |