Wholesale yield on three-month bank paper, recorded by the RBNZ (B2). Latest daily: 3.01% on Aug 25, 2026. The RBNZ does not set this rate; markets do.
History uses INM.DB03.N (1985–2017) and INM.DB03.NZZV (2018–). Chart and long-run stats use month-ends. From Jan 31, 1985 to Aug 25, 2026: mean 6.79%, median 5.64%; low 0.25% (Nov 30, 2020), high 27.40% (Sep 30, 1985).
Source: RBNZ Wholesale interest rates (B2), 90-day bank bill. Licence: RBNZ statistics terms: republication permitted with attribution to the Reserve Bank of New Zealand (terms). Files: data/raw/hb2-daily-1985-2017.xlsx (INM.DB03.N) + data/raw/hb2-daily-close.xlsx (INM.DB03.NZZV).
Reading this series
The 90-day bank bill is a wholesale market yield on short-dated bank paper, recorded by the Reserve Bank of New Zealand in its B2 wholesale tables. Nobody sets it: it reflects what banks and investors are willing to pay for three-month bank funding, so it moves continuously with expectations for the OCR and with market conditions. The history is spliced from two official files — series INM.DB03.N for 1985 to 2017 and INM.DB03.NZZV for 2018 onward — and the page states which file supplied each stretch. The latest daily print is the headline, while the chart and the long-run statistics use month-ends so the browser is not asked to plot every trading day.
Read the current value together with the "versus the previous reading" line to see the direction of the last move, then use Chart and Table for the same data two ways. The mean, median, low and high are arithmetic summaries of the monthly observations in this build, not official aggregates. Range buttons filter the drawn window, and Explore adds zoom and pan only when you ask for it. A bank-bill yield is a market reference, not a mortgage or deposit rate.
About this desk
The United States desk leads with the effective federal funds rate, the market average published by the Federal Reserve and republished here from FRED. Bank Rate, the ECB deposit facility, Australia's cash rate and Canada's overnight rate follow in the menu, with the remaining official series after them. Every desk shows the same series in this build; the desk only changes the order and the wording, so the federal funds page carries the same data whether you arrive from /us/ or the hub. The US desk is also one of the two whose dates are written month-first.
The figures are read from official files and republished without alteration. Fed funds is a market rate set inside the FOMC's target range, not a rate the central bank fixes; the target range itself is not published on this site. Nothing here is advice, and readings may lag their source.