Timeline of our OCR announcements since November 1999
Our Monetary Policy Committee (MPC) reviews the OCR 8 times a year.
We publish our Monetary Policy Statement 4 times a year.
| Date | OCR | Decision documents | Media conference | Other monetary policy tools |
|---|---|---|---|---|
| 2026 | ||||
| 27 May 2026 | 2.25 | Media release | Statement | Media conference | |
| 8 April 2026 | 2.25 | Media release | Media conference | |
| 18 February 2026 | 2.25 | Media release | Statement | Explainer video (95 secs) | Media conference | |
| 2025 | ||||
| 26 November 2025 | 2.25 | Media release | Statement | Media conference | |
| 8 October 2025 | 2.5 | Media release | ||
| 20 August 2025 | 3.0 | Media release | Statement Explainer video (1.26 mins) | Media conference | |
| 9 July 2025 | 3.25 | Media release | ||
| 28 May 2025 | 3.25 | Media release | Statement Explainer video (52 secs) |
Media conference | |
| 9 April 2025 | 3.5 | Media release | ||
| 19 February 2025 | 3.75 | Media release | Statement Explainer video (57 secs) |
Media conference | |
| 2024 | ||||
| 27 November 2024 | 4.25 | Media release | Statement } Explainer video (43 secs) | Media conference | |
| 9 October 2024 | 4.75 | Media release | ||
| 14 August 2024 | 5.25 | Media release | Statement | Explainer video (1 min) | Media conference | |
| 10 July 2024 | 5.5 | Media release | ||
| 22 May 2024 | 5.5 | Media release | Statement | Explainer video (2 min) | Media conference | |
| 10 April 2024 | 5.5 | Media release | ||
| 28 February 2024 | 5.5 | Media release | Statement | Explainer video (2 min) |
Media conference | |
2023 |
||||
| 29 November 2023 | 5.5 | Media release | Statement | Explainer video (2 min) | Media conference | |
| 4 October 2023 | 5.5 | Media release | ||
| 16 August 2023 | 5.5 | Media release | Statement | Explainer video (1 min 40) | Media conference | |
| 12 July 2023 |
5.5 | Media release | ||
| 24 May 2023 | 5.5 | Media release | Statement | Explainer video (1 min 50) | Media conference | |
| 5 April 2023 | 5.25 | Media release | ||
| 22 February 2023 | 4.75 | Media release | Statement | Media conference | |
2022 |
||||
| 23 November 2022 | 4.25 | Media release | Statement | Media conference | |
| 5 October 2022 | 3.5 | Media release | ||
| 17 August 2022 | 3.0 | Media release | Statement | Media conference | |
| 13 July 2022 | 2.5 | Media release | ||
| 25 May 2022 | 2.0 | Media release | Statement | Media conference | |
| 13 April 2022 | 1.5 | Media release | ||
| 23 February 2022 | 1.0 | Media release | Statement | Media conference | |
2021 |
||||
| 24 November 2021 | 0.75 | Media release | Statement | Media conference | |
| 6 October 2021 | 0.50 | Media release | ||
| 18 August 2021 | 0.25 | Media release | Statement | Media conference | |
| 14 July 2021 | 0.25 | Media release | Additional asset purchases under the Large-scale Asset Purchases (LSAP) programme halted by 23 July 2021. | |
| 26 May 2021 | 0.25 | Media release | Statement | Media conference | |
| 14 April 2021 | 0.25 | Media release | ||
| 24 February 2021 | 0.25 | Media release | Statement | Media conference | |
2020 |
||||
| 11 November 2020 | 0.25 | Media release | Statement | Media conference | Funding for Lending Programme (FLP) announced for deployment in December 2020. |
| 23 September 2020 | 0.25 | Media release | ||
| 12 August 2020 | 0.25 | Media release | Statement | Media conference | Large-scale Asset Purchase (LSAP) programme expanded to include up to $100 billion of bond purchases. |
| 24 June 2020 | 0.25 | Media release | ||
| 13 May 2020 | 0.25 | Media release | Statement | Media conference | LSAP programme expanded to include up to $60 billion of bond purchases. NZ government inflation-indexed bonds added to eligible purchases. |
| 7 April 2020 | 0.25 | Media release | $3 billion of Local Government Funding Agency (LGFA) bonds added to potential LSAP. |
|
| 23 March 2020 | 0.25 | Media release | LSAP of up to $30 billion of NZ government bonds announced. |
|
| 16 March 2020 | 0.25 | Media release | Forward guidance that OCR will remain at this level for at least 12 months. |
|
| 12 February 2020 | 1.0 | Media release | Statement | Media conference | |
2019 |
||||
| 13 November 2019 | 1.0 | Media release | Statement | Media conference | |
| 25 September 2019 |
1.0 | Media release | ||
| 7 August 2019 |
1.0 | Media release | Statement | Media conference | |
| 26 June 2019 | 1.5 | Media release | ||
| 8 May 2019 | 1.5 | Media release | Statement | Media conference | |
| 27 March 2019 | 1.75 | Media release | ||
| 13 February 2019 | 1.75 | Media release | Statement | Media conference | |
2018 |
||||
| 8 November 2018 | 1.75 | Media release | Statement | Media conference | Highlights (5 min) | |
| 27 September 2018 | 1.75 | Media release | ||
| 9 August 2018 | 1.75 | Media release | Statement | Media conference | Highlights (8 min) | |
| 28 June 2018 | 1.75 | Media release | ||
| 10 May 2018 | 1.75 | Media release | Statement | Media conference | Highlights (5 min) | |
| 22 March 2018 | 1.75 | Media release | ||
| 8 February 2018 | 1.75 | Media release | Statement | Media conference | Highlights (8 min) | |
2017 |
||||
| 9 November 2017 | 1.75 | Media release | Statement | Media conference | Highlights (10 min) | |
| 28 September 2017 | 1.75 | Media release | ||
| 10 August 2017 | 1.75 | Media release | Statement | Media conference | Highlights (6 min) | |
| 22 June 2017 | 1.75 | Media release | ||
| 11 May 2017 | 1.75 | Media release | Statement | Media conference | Highlights (4 min) | |
| 23 March 2017 | 1.75 | Media release | ||
| 9 February 2017 | 1.75 | Media release | Statement | Media conference | Highlights (10 min) | |
2016 |
||||
| 10 November 2016 | 1.75 | Media release | Statement | Media conference | Highlights (5 min) | |
| 22 September 2016 | 2.0 | Media release | ||
| 11 August 2016 | 2.0 | Media release | Statement | Media conference | Highlights (5 min) | |
| 9 June 2016 | 2.25 | Media release | Statement | Media conference | Highlights (8 min) | |
| 28 April 2016 | 2.25 | Media release | ||
| 10 March 2016 | 2.25 | Media release | Statement | Media conference | Highlights (4 min) | |
| 28 January 2016 | 2.5 | Media release | ||
2015 |
||||
| 10 December 2015 | 2.5 | Media release | Statement | Media conference | Highlights (5 min) | |
| 29 October 2015 | 2.75 | Media release | ||
| 10 September 2015 | 2.75 | Media release | Statement | Media conference | Highlights (5 min) | |
| 23 July 2015 | 3.0 | Media release | ||
| 11 June 2015 | 3.25 | Media release | Statement | Media conference | Highlights (4 min) | |
| 30 April 2015 | 3.5 | Media release | ||
| 12 March 2015 | 3.5 | Media release | Statement | Media conference | Highlights (6 min) | |
| 29 January 2015 | 3.5 | Media release | ||
2014 |
||||
| 11 December 2014 | 3.5 | Media release | Statement | Media conference | Highlights (4 min) | |
| 30 October 2014 | 3.5 | Media release | ||
| 11 September 2014 | 3.5 | Media release | Statement | Media conference | |
| 24 July 2014 | 3.5 | Media release | ||
| 12 June 2014 | 3.25 | Media release | Statement | Media conference | |
| 24 April 2014 | 3.0 | Media release | ||
| 13 March 2014 | 2.75 | Media release | Statement | Media conference | |
| 30 January 2014 | 2.5 | Media release | ||
2013 |
||||
| 12 December 2013 | 2.5 | Media release | Statement | Media conference | |
| 31 October 2013 | 2.5 | Media release | ||
| 12 September 2013 | 2.5 | Media release | Statement | Media conference | |
| 25 July 2013 | 2.5 | Media release | ||
| 13 June 2013 | 2.5 | Media release | Statement | Media conference | |
| 24 April 2013 | 2.5 | Media release | ||
| 14 March 2013 | 2.5 | Media release | Statement | Media conference | |
| 31 January 2013 | 2.5 | Media release | ||
2012 |
||||
| 6 December 2012 | 2.5 | Media release | Statement | Media conference | |
| 25 October 2012 | 2.5 | Media release | ||
| 13 September 2012 | 2.5 | Media release | Statement | Media conference | |
| 26 July 2012 | 2.5 | Media release | ||
| 14 June 2012 | 2.5 | Media release | Statement | Media conference | |
| 26 April 2012 | 2.5 | Media release | ||
| 8 March 2012 | 2.5 | Media release | Statement | Media conference | |
| 26 January 2012 | 2.5 | Media release | ||
2011 |
||||
| 8 December 2011 | 2.5 | Media release | Statement | Media conference | |
| 27 October 2011 | 2.5 | Media release | ||
| 15 September 2011 | 2.5 | Media release | Statement | ||
| 28 July 2011 | 2.5 | Media release | ||
| 9 June 2011 | 2.5 | Media release | Statement | Media conference | |
| 28 April 2011 | 2.5 | Media release | ||
| 10 March 2011 | 2.5 | Media release | Statement | Media conference | |
| 27 January 2011 | 3.0 | Media release | ||
2010 |
||||
| 9 December 2010 | 3.0 | Media release | Statement | Media conference | |
| 28 October 2010 | 3.0 | Media release | ||
| 16 September 2010 | 3.0 | Media release | Statement | Media conference | |
| 29 July 2010 | 3.0 | Media release | ||
| 10 June 2010 | 2.75 | Media release | Statement | Media conference | |
| 29 April 2010 | 2.5 | Media release | ||
| 11 March 2010 | 2.5 | Media release | Statement | Media conference | |
| 28 January 2010 | 2.5 | Media release | ||
2009 |
||||
| 10 December 2009 | 2.5 | Media release | Statement | Media conference | |
| 29 October 2009 | 2.5 | Media release | ||
| 10 September 2009 | 2.5 | Media release | Statement | ||
| 30 July 2009 | 2.5 | Media release | ||
| 11 June 2009 | 2.5 | Media release | Statement | ||
| 30 April 2009 | 2.5 | Media release | ||
| 12 March 2009 | 3.0 | Media release | Statement | Media conference | |
| 29 January 2009 | 3.5 | Media release | ||
2008 |
||||
| 4 December 2008 | 5.0 | Media release | Statement | ||
| 23 October 2008 | 6.5 | Media release | ||
| 11 September 2008 | 7.5 | Media release | Statement | ||
| 24 July 2008 | 8.0 | Media release | ||
| 5 June 2008 | 8.25 | Media release | Statement | ||
| 24 April 2008 | 8.25 | Media release | ||
| 6 March 2008 | 8.25 | Media release | Statement | ||
| 24 January 2008 | 8.25 | Media release | ||
2007 |
||||
| 6 December 2007 | 8.25 | Media release | Statement | ||
| 25 October 2007 | 8.25 | Media release | ||
| 13 September 2007 | 8.25 | Media release | Statement | ||
| 26 July 2007 | 8.25 | Media release | ||
| 7 June 2007 | 8.0 | Media release | Statement | ||
| 26 April 2007 | 7.75 | Media release | ||
| 8 March 2007 | 7.5 | Media release | Statement | ||
| 25 January 2007 | 7.25 | Media release | ||
2006 |
||||
| 7 December 2006 | 7.25 | Media release | Statement | ||
| 26 October 2006 | 7.25 | Media release | ||
| 14 September 2006 | 7.25 | Media release | Statement | ||
| 27 July 2006 | 7.25 | Media release | ||
| 8 June 2006 | 7.25 | Media release | Statement | ||
| 27 April 2006 | 7.25 | Media release | ||
| 9 March 2006 | 7.25 | Media release | Statement | ||
| 26 January 2006 | 7.25 | Media release | ||
2005 |
||||
| 8 December 2005 | 7.25 | Statement | ||
| 27 October 2005 | 7.0 | |||
| 15 September 2005 | 6.75 | Statement | ||
| 28 July 2005 | 6.75 | |||
| 9 June 2005 | 6.75 | Statement | ||
| 28 April 2005 | 6.75 | |||
| 10 March 2005 | 6.75 | Statement | ||
| 27 January 2005 | 6.5 | |||
2004 |
||||
| 9 December 2004 | 6.5 | Statement | ||
| 28 October 2004 | 6.5 | |||
| 9 September 2004 | 6.25 | Statement | ||
| 29 July 2004 | 6.0 | |||
| 10 June 2004 | 5.75 | Statement | ||
| 29 April 2004 | 5.5 | |||
| 11 March 2004 | 5.25 | Statement | ||
| 29 January 2004 | 5.25 | |||
2003 |
||||
| 4 December 2003 | 5.0 | Statement | ||
| 23 October 2003 | 5.0 | |||
| 4 September 2003 | 5.0 | Statement | ||
| 24 July 2003 | 5.0 | |||
| 5 June 2003 | 5.25 | Statement | ||
| 24 April 2003 | 5.5 | |||
| 6 March 2003 | 5.75 | Statement | ||
| 23 January 2003 | 5.75 | |||
2002 |
||||
| 20 November 2002 | 5.75 | Statement | ||
| 2 October 2002 | 5.75 | |||
| 14 August 2002 | 5.75 | Statement | ||
| 3 July 2002 | 5.75 | |||
| 15 May 2002 | 5.5 | Statement | ||
| 17 April 2002 | 5.25 | |||
| 20 March 2002 |
5.0 | Statement | ||
| 23 January 2002 |
4.75 | |||
2001 |
||||
| 14 November 2001 |
4.75 | Statement | ||
| 3 October 2001 |
5.25 | |||
| 19 September 2001 |
5.25 | |||
| 15 August 2001 |
5.75 | Statement | ||
| 4 July 2001 |
5.75 | |||
| 16 May 2001 |
5.75 | Statement | ||
| 19 April 2001 |
6.0 | |||
| 14 March 2001 |
6.25 | Statement | ||
| 24 January 2001 |
6.5 | |||
2000 |
||||
| 6 December 2000 |
6.5 | Statement | ||
| 4 October 2000 |
6.5 | |||
| 16 August 2000 |
6.5 | Statement | ||
| 5 July 2000 |
6.5 | |||
| 17 May 2000 |
6.5 | Statement | ||
| 19 April 2000 |
6.0 | |||
| 15 March 2000 |
5.75 | Statement | ||
| 19 January 2000 |
5.25 | |||
1999 |
||||
| 17 November 1999 |
5.0 | Statement | ||
| 29 September 1999 |
4.5 | |||
| 18 August 1999 |
4.5 | Statement | ||
| 30 June 1999 |
4.5 | |||
| 19 May 1999 |
4.5 | Statement | ||
| 21 April 1999 |
4.5 | |||
| 17 March 1999 |
4.5 | Statement | OCR introduced | |