Policy rate · RBNZ
RBNZ interest rate: 2.75%
Reserve Bank of New Zealand (Wellington): current Official Cash Rate, next meeting, what the market expects and recent decisions. Updated automatically.
Current rate
2.75%
Official Cash Rate
Last move
—
official history unavailable
Next meeting
December 9, 2026
The market mostly expects a hold (52%)
What the market expects for the next meetings
Probabilities derived from short-term interest rate futures.
| Meeting | Cut | Hold | Hike | Expected rate |
|---|---|---|---|---|
| December 9, 2026 | 0% | 52% | 48% | 2.87% |
| February 10, 2027 | 0% | 54% | 46% | 2.98% |
| March 17, 2027 | 0% | 56% | 44% | 3.09% |
| May 5, 2027 | 0% | 59% | 41% | 3.2% |
| June 16, 2027 | 0% | 62% | 38% | 3.29% |
| August 4, 2027 | 0% | 73% | 27% | 3.36% |
RBNZ rate, in plain English
The Official Cash Rate is the main tool of the Reserve Bank of New Zealand. The RBNZ sets it 7 times a year to steer inflation and growth: raising it cools the economy and inflation, cutting it stimulates them.
The RBNZ's decisions are among the releases that move the New Zealand dollar the most: before opening a position on a NZD pair, it helps to know when the next meeting is and what the market expects from it.
FAQ
- What is the RBNZ's interest rate today?
- The RBNZ's Official Cash Rate is 2.75%.
- When is the RBNZ's next meeting?
- The RBNZ's next decision is due on December 9, 2026. The RBNZ meets 7 times a year to set its rate.
- How does the RBNZ's rate affect the New Zealand dollar?
- A higher rate pays more on New Zealand dollar deposits and tends to support it against other currencies; a cut does the opposite. What moves the price is not the decision itself but the gap between the decision and what the market expected.
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Get my free diagnosticOfficial sources: FRED (Federal Reserve Bank of St. Louis), ECB, Bank of England, Bank of Canada, Eurostat. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.