Central Bank RatesNew Zealand: central bank policy rate
Last updated:
Policy rate2.75%Oct 2, 2026
For information only. Figures are reproduced from the cited sources, may be delayed or contain errors, and are not advice of any kind. Always check the original source. This is not investment advice. Translations on this site are not official BIS translations.
SinceSep 3, 2026hike +25 bp
1 year ago3.00%
Last 2 years (daily values)
Policy rate since 2000 (month-end values)
All changes since 2000
| Date | From | To | Change |
|---|---|---|---|
| Sep 3, 2026 | 2.50% | 2.75% | hike +25 bp |
| Jul 9, 2026 | 2.25% | 2.50% | hike +25 bp |
| Nov 27, 2025 | 2.50% | 2.25% | cut -25 bp |
| Oct 9, 2025 | 3.00% | 2.50% | cut -50 bp |
| Aug 21, 2025 | 3.25% | 3.00% | cut -25 bp |
| May 29, 2025 | 3.50% | 3.25% | cut -25 bp |
| Apr 10, 2025 | 3.75% | 3.50% | cut -25 bp |
| Feb 20, 2025 | 4.25% | 3.75% | cut -50 bp |
| Nov 28, 2024 | 4.75% | 4.25% | cut -50 bp |
| Oct 10, 2024 | 5.25% | 4.75% | cut -50 bp |
| Aug 15, 2024 | 5.50% | 5.25% | cut -25 bp |
| May 25, 2023 | 5.25% | 5.50% | hike +25 bp |
| Apr 6, 2023 | 4.75% | 5.25% | hike +50 bp |
| Feb 23, 2023 | 4.25% | 4.75% | hike +50 bp |
| Nov 24, 2022 | 3.50% | 4.25% | hike +75 bp |
| Oct 6, 2022 | 3.00% | 3.50% | hike +50 bp |
| Aug 18, 2022 | 2.50% | 3.00% | hike +50 bp |
| Jul 14, 2022 | 2.00% | 2.50% | hike +50 bp |
| May 26, 2022 | 1.50% | 2.00% | hike +50 bp |
| Apr 14, 2022 | 1.00% | 1.50% | hike +50 bp |
| Feb 24, 2022 | 0.75% | 1.00% | hike +25 bp |
| Nov 25, 2021 | 0.50% | 0.75% | hike +25 bp |
| Oct 7, 2021 | 0.25% | 0.50% | hike +25 bp |
| Mar 17, 2020 | 1.00% | 0.25% | cut -75 bp |
| Aug 8, 2019 | 1.50% | 1.00% | cut -50 bp |
| May 9, 2019 | 1.75% | 1.50% | cut -25 bp |
| Nov 10, 2016 | 2.00% | 1.75% | cut -25 bp |
| Aug 11, 2016 | 2.25% | 2.00% | cut -25 bp |
| Mar 10, 2016 | 2.50% | 2.25% | cut -25 bp |
| Dec 10, 2015 | 2.75% | 2.50% | cut -25 bp |
| Sep 10, 2015 | 3.00% | 2.75% | cut -25 bp |
| Jul 23, 2015 | 3.25% | 3.00% | cut -25 bp |
| Jun 11, 2015 | 3.50% | 3.25% | cut -25 bp |
| Jul 24, 2014 | 3.25% | 3.50% | hike +25 bp |
| Jun 12, 2014 | 3.00% | 3.25% | hike +25 bp |
| Apr 24, 2014 | 2.75% | 3.00% | hike +25 bp |
| Mar 13, 2014 | 2.50% | 2.75% | hike +25 bp |
| Mar 10, 2011 | 3.00% | 2.50% | cut -50 bp |
| Jul 29, 2010 | 2.75% | 3.00% | hike +25 bp |
| Jun 10, 2010 | 2.50% | 2.75% | hike +25 bp |
| Apr 30, 2009 | 3.00% | 2.50% | cut -50 bp |
| Mar 12, 2009 | 3.50% | 3.00% | cut -50 bp |
| Jan 29, 2009 | 5.00% | 3.50% | cut -150 bp |
| Dec 4, 2008 | 6.50% | 5.00% | cut -150 bp |
| Oct 23, 2008 | 7.50% | 6.50% | cut -100 bp |
| Sep 11, 2008 | 8.00% | 7.50% | cut -50 bp |
| Jul 24, 2008 | 8.25% | 8.00% | cut -25 bp |
| Jul 26, 2007 | 8.00% | 8.25% | hike +25 bp |
| Jun 7, 2007 | 7.75% | 8.00% | hike +25 bp |
| Apr 26, 2007 | 7.50% | 7.75% | hike +25 bp |
| Mar 8, 2007 | 7.25% | 7.50% | hike +25 bp |
| Dec 8, 2005 | 7.00% | 7.25% | hike +25 bp |
| Oct 27, 2005 | 6.75% | 7.00% | hike +25 bp |
| Mar 10, 2005 | 6.50% | 6.75% | hike +25 bp |
| Oct 28, 2004 | 6.25% | 6.50% | hike +25 bp |
| Sep 9, 2004 | 6.00% | 6.25% | hike +25 bp |
| Jul 29, 2004 | 5.75% | 6.00% | hike +25 bp |
| Jun 10, 2004 | 5.50% | 5.75% | hike +25 bp |
| Apr 29, 2004 | 5.25% | 5.50% | hike +25 bp |
| Jan 29, 2004 | 5.00% | 5.25% | hike +25 bp |
| Jul 24, 2003 | 5.25% | 5.00% | cut -25 bp |
| Jun 5, 2003 | 5.50% | 5.25% | cut -25 bp |
| Apr 24, 2003 | 5.75% | 5.50% | cut -25 bp |
| Jul 3, 2002 | 5.50% | 5.75% | hike +25 bp |
| May 15, 2002 | 5.25% | 5.50% | hike +25 bp |
| Apr 17, 2002 | 5.00% | 5.25% | hike +25 bp |
| Mar 20, 2002 | 4.75% | 5.00% | hike +25 bp |
| Nov 14, 2001 | 5.25% | 4.75% | cut -50 bp |
| Sep 19, 2001 | 5.75% | 5.25% | cut -50 bp |
| May 16, 2001 | 6.00% | 5.75% | cut -25 bp |
| Apr 19, 2001 | 6.25% | 6.00% | cut -25 bp |
| Mar 14, 2001 | 6.50% | 6.25% | cut -25 bp |
| May 17, 2000 | 6.00% | 6.50% | hike +50 bp |
| Apr 19, 2000 | 5.75% | 6.00% | hike +25 bp |
| Mar 15, 2000 | 5.25% | 5.75% | hike +50 bp |
| Jan 19, 2000 | 5.00% | 5.25% | hike +25 bp |
Which rate is shown (BIS notes, in English)
From 17 Mar 1999 onwards: Official market intervention representative rate, official cash rate; from Jan 1985 to 16 Mar 1999: overnight cash rate.
This rate can be considered the official policy rate as from 17 Mar 1999.
Changes by year
Method
We download the BIS daily policy-rate series (WS_CBPOL). A change is recorded on the first day the published value differs from the previous day's value. Series that ended (for example euro area members before joining the euro) are not listed. bp = basis points (0.01 percentage point).
About this page
The policy rate of New Zealand is 2.75% (BIS data as of Oct 2, 2026).