New Zealand interest rate: Reserve Bank of New Zealand policy rate
The Reserve Bank of New Zealand policy rate is 2.75%, in force since Sep 3, 2026. Source: Bank for International Settlements, data to Oct 23, 2026. Raised from 2.50% on Sep 3, 2026.
Rate changes
| Since | Policy rate | Change (percentage points) |
|---|---|---|
| Sep 3, 2026 | 2.75% | +0.25 |
| Jul 9, 2026 | 2.50% | +0.25 |
| Nov 27, 2025 | 2.25% | -0.25 |
| Oct 9, 2025 | 2.50% | -0.50 |
| Aug 21, 2025 | 3.00% | -0.25 |
| May 29, 2025 | 3.25% | -0.25 |
| Apr 10, 2025 | 3.50% | -0.25 |
| Feb 20, 2025 | 3.75% | -0.50 |
| Nov 28, 2024 | 4.25% | -0.50 |
| Oct 10, 2024 | 4.75% | -0.50 |
| Aug 15, 2024 | 5.25% | -0.25 |
| May 25, 2023 | 5.50% | +0.25 |
| Apr 6, 2023 | 5.25% | +0.50 |
| Feb 23, 2023 | 4.75% | +0.50 |
| Nov 24, 2022 | 4.25% | +0.75 |
| Oct 6, 2022 | 3.50% | +0.50 |
| Aug 18, 2022 | 3.00% | +0.50 |
| Jul 14, 2022 | 2.50% | +0.50 |
| May 26, 2022 | 2.00% | +0.50 |
| Apr 14, 2022 | 1.50% | +0.50 |
| Feb 24, 2022 | 1.00% | +0.25 |
| Nov 25, 2021 | 0.75% | +0.25 |
| Oct 7, 2021 | 0.50% | +0.25 |
| Mar 17, 2020 | 0.25% | -0.75 |
| Aug 8, 2019 | 1.00% | -0.50 |
| May 9, 2019 | 1.50% | -0.25 |
| Nov 10, 2016 | 1.75% | -0.25 |
| Aug 11, 2016 | 2.00% | -0.25 |
| Mar 10, 2016 | 2.25% | -0.25 |
| Jan 1, 2016 | 2.50% | — |
Source: Bank for International Settlements (BIS), central bank policy rates, updated daily. The rate shown is the one each central bank uses to signal its policy.
Frequently asked questions
What is the interest rate in New Zealand?
The Reserve Bank of New Zealand policy rate is 2.75% (since Sep 3, 2026).
When did the Reserve Bank of New Zealand last change its policy rate?
On Sep 3, 2026, from 2.50% to 2.75%.
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