As of | Daily (policy rate; changes on decision days)
Mean
3.88%
Median
3.25%
Min
0.25%
Max
8.25%
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No chart history is available for this series.
Date
Rate
2.50
2.50
2.25
2.25
2.25
2.25
2.25
2.25
2.25
2.25
2.50
3.00
3.00
3.25
3.25
3.25
3.50
3.75
3.75
4.25
4.25
4.25
4.75
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 Aug 25, 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 Mar 17, 1999 to Aug 25, 2026 (6,889 observations): mean 3.88%, median 3.25%; low 0.25% (Mar 17, 2020), high 8.25% (Jul 26, 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 the figures
Read the latest value together with its observation date. The change compares it with the previous observation; when a policy rate is unchanged, the last actual move is shown where available. Percentage points measure the difference between two rates; a percentage change measures that difference relative to the earlier value. The summary statistics describe the history used on this page, not a forecast or a separate official aggregate.
The chart and table present the same series, with the newest table entries first. Range controls filter the chart without changing the data or recalculating the summary statistics. Explore enables zoom and pan. A policy rate, a market benchmark and a retail survey average are different measures; none is a personal loan or deposit offer.