The Reserve Bank of New Zealand left its official cash rate/OCR unchanged at a record low of 0.25% on June 24th, 2020, as widely expected, and maintained its large scale asset purchase (LSAP) programme at NZD 60 billion. Policymakers said the balance of economic risks remains to the downside, despite a relaxation of social restrictions and an earlier resumption of domestic economic activity in the wake of the COVID-19 crisis. The central bank added it is prepared to provide additional stimulus as well as potentially expanding the large scale asset purchase programme and the use of more monetary policy tools as needed. The board agreed that the extent of the continued job losses and reduced activity remains uncertain, while noting that household and business confidence remains weak.
Interest Rate in New Zealand averaged 7.26 percent from 1985 until 2019, reaching an all time high of 67.32 percent in March of 1985 and a record low of 1 percent in August of 2019. This page provides - New Zealand Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Reserve Bank of New Zealand
Interest Rate in New Zealand is expected to be 0.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in New Zealand to stand at 0.25 in 12 months time. In the long-term, the New Zealand Interest Rate is projected to trend around -0.25 percent in 2021, according to our econometric models.