New Zealand Interest Rate
Updated: 2023-03-31 14:42:06
The benchmark interest rate in New Zealand was last recorded at 4.75 percent. Interest Rate in New Zealand averaged 6.74 percent from 1985 until 2023, reaching an all time high of 67.32 percent in March of 1985 and a record low of 0.25 percent in March of 2020. 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. This page provides - New Zealand Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.