The Reserve Bank of New Zealand held its official cash rate (0CR) at a record low of 0.25 percent during its April meeting and left the Large Scale Asset Purchase (LSAP) Programme of up to $100 billion and the Funding for Lending Programme (FLP) operation unchanged. Policymakers said they would not remove monetary stimulus until they had confidence that it is sustainably achieving the consumer price inflation and employment objectives. Given that uncertainty remains elevated, gaining this confidence is expected to take considerable time. While doing so, the committee agreed to look through any temporary factors driving prices as required by the remit and noted that there will be periods during which inflation will be above the 2 percent target per annum. midpoint. The committee also agreed that it was prepared to lower the OCR if required. source: Reserve Bank of New Zealand
Interest Rate in New Zealand averaged 6.97 percent from 1985 until 2021, reaching an all time high of 67.32 percent in March of 1985 and a record low of 0.25 percent in March of 2020. 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 May of 2021.
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 0.50 percent in 2022 and 0.75 percent in 2023, according to our econometric models.