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Reserve Bank of New Zealand · Official cash rate

New Zealand · NZD · Policy rate

The Reserve Bank of New Zealand’s Official cash rate is 2.75 %, last changed on 3 Sep 2026 when it was raised by 25 bp from 2.50 %. The next scheduled decision is on .

2.75 %

Last change
raised +25 bp·
Previous rate
2.50 %
Next decision
Latest observation
Source
BIS

2.75 % ·

18 Sep 20210.00 – 5.50 %18 Sep 2026

Recent decisions

DateRateChange
2.75 %+25 bp
2.50 %+25 bp
2.25 %hold
2.25 %hold
2.25 %hold
2.25 %−25 bp
2.50 %−50 bp
3.00 %−25 bp
3.25 %hold

Changes are dated by when they took effect; holds by the announcement day.

RBNZ website ↗

At a glance

Economy
New Zealand
Currency
NZD
Type
Policy rate
Set by
Reserve Bank of New Zealand
History since
1985
Changes in the last 12 months
4

Questions and answers

What is the current Reserve Bank of New Zealand interest rate?
The Reserve Bank of New Zealand’s Official cash rate is 2.75 %, last changed on 3 Sep 2026 when it was raised by 25 bp from 2.50 %.
When did the Reserve Bank of New Zealand last change its rate?
On 3 Sep 2026, when the Official cash rate was raised by 25 bp to 2.75 % from 2.50 %.
What did the Reserve Bank of New Zealand decide at its last meeting?
On 3 Sep 2026 it raised the Official cash rate by 25 bp to 2.75 %.
When is the next Reserve Bank of New Zealand rate decision?
The next scheduled announcement is on 28 Oct 2026.

All changes since 2016

DateRateChange
2.75 %+25 bp
2.50 %+25 bp
2.25 %−25 bp
2.50 %−50 bp
3.00 %−25 bp
3.25 %−25 bp
3.50 %−25 bp
3.75 %−50 bp
4.25 %−50 bp
4.75 %−50 bp
5.25 %−25 bp
5.50 %+25 bp
5.25 %+50 bp
4.75 %+50 bp
4.25 %+75 bp
3.50 %+50 bp
3.00 %+50 bp
2.50 %+50 bp
2.00 %+50 bp
1.50 %+50 bp
1.00 %+25 bp
0.75 %+25 bp
0.50 %+25 bp
0.25 %−75 bp
1.00 %−50 bp
1.50 %−25 bp
1.75 %−25 bp

Dates before 2021 are month precision (monthly BIS data).

Other rates in Oceania

Source: BIS central bank policy rates. Latest observation 11 Sep 2026. Refreshed every 30 minutes.