As of 25 Aug 2026 | Daily (policy rate; changes on decision days)
Mean
3.88%
Median
3.25%
Min
0.25% 17 Mar 2020
Max
8.25% 26 Jul 2007
Date
Rate
25 Aug 2026
2.50
31 Jul 2026
2.50
30 Jun 2026
2.25
29 May 2026
2.25
30 Apr 2026
2.25
31 Mar 2026
2.25
27 Feb 2026
2.25
30 Jan 2026
2.25
31 Dec 2025
2.25
28 Nov 2025
2.25
31 Oct 2025
2.50
30 Sep 2025
3.00
29 Aug 2025
3.00
31 Jul 2025
3.25
30 Jun 2025
3.25
30 May 2025
3.25
30 Apr 2025
3.50
31 Mar 2025
3.75
28 Feb 2025
3.75
31 Jan 2025
4.25
31 Dec 2024
4.25
29 Nov 2024
4.25
31 Oct 2024
4.75
30 Sep 2024
5.25
About the OCR
The Official Cash Rate is the Reserve Bank of New Zealand’s overnight policy rate (B2, INM.DP1.N). The current reading is 2.50% as of 25 Aug 2026. This page starts in March 1999, when the OCR began; earlier overnight series in the same file are a different instrument.
The chart is a step: moves are MPC decisions, flats are unchanged settings. Range buttons filter the view only. From 17 Mar 1999 to 25 Aug 2026 (6,889 observations): mean 3.88%, median 3.25%; low 0.25% (17 Mar 2020), high 8.25% (26 Jul 2007). Not a mortgage or deposit rate.
Source: RBNZ Wholesale interest rates (B2), series INM.DP1.N. Licence: RBNZ statistics terms: republication permitted with attribution to the Reserve Bank of New Zealand (terms). Files: data/raw/hb2-daily-1985-2017.xlsx + data/raw/hb2-daily-close.xlsx.
Reading this series
The Official Cash Rate is the Reserve Bank of New Zealand's overnight policy rate, published in the central bank's B2 wholesale interest-rate tables as series INM.DP1.N. The RBNZ's Monetary Policy Committee sets it and announces changes on scheduled decision dates, so between announcements the rate is flat. This page begins in March 1999, when the OCR was introduced; the earlier overnight series in the same workbook is deliberately excluded because it was a different instrument. Because the rate moves only at decisions, the chart is drawn as steps and the table lists each daily observation in reverse date order.
Read the headline number as the latest published setting, then the "versus the previous reading" line: for a rate that has been unchanged for weeks the page also surfaces the date of the last actual move. The mean and median are arithmetic summaries of the OCR readings in this build, so a long stay at one setting pulls them toward it. Chart and Table show the same series two ways; the range buttons only filter the view; Explore adds zoom and pan on request. The OCR is a policy rate, not a mortgage or deposit rate.
About this desk
Germany has no separate policy rate in this build. The Germany desk therefore leads with the ECB deposit facility rate, the euro-area policy rate set by the ECB Governing Council, then €STR, the euro overnight market benchmark. UK, US and other official rates follow. Germany is in the euro area, so its monetary policy is set in Frankfurt; inventing a Bundesbank policy series would misrepresent the data, and the desk does not do that.
France and Italy share the same two ECB series, and the /ea/ desk is their natural home. The figures are read from the ECB Data Portal and republished with attribution under the ESCB statistics reuse policy. Every desk shows the same set in a different order, so switching desks changes the menu, not the numbers. The build ingests no German retail rate series, so none is shown. This is not financial advice.