See our Official Cash Rate (OCR) decisions since 1999, and find all our media releases and statements on monetary policy.
Our Monetary Policy Committee (MPC) reviews the OCR 7 times a year.
We publish our Monetary Policy Statement 4 times a year.
Monetary Policy Reviews (MPRs) give an interim update on the monetary policy outlook and settings between each Monetary Policy Statement. There is no media conference or published statement for the Monetary Policy Review.
Date | OCR | Decision documents | Media conference | Other monetary policy tools |
---|---|---|---|---|
2024 |
||||
27 November | 4.25 | Media release | Statement } Explainer video (43 secs) | Media conference | |
9 October | 4.75 | Media release | ||
14 August | 5.25 | Media release | Statement | Explainer video (1 min) | Media conference | |
10 July | 5.5 | Media release | ||
22 May | 5.5 | Media release | Statement | Explainer video (2 min) | Media conference | |
10 April | 5.5 | Media release | ||
28 February | 5.5 | Media release | Statement | Explainer video (2 min) |
Media conference | |
2023 |
||||
29 November | 5.5 | Media release | Statement | Explainer video (2 min) | Media conference | |
4 October | 5.5 | Media release | ||
16 August | 5.5 | Media release | Statement | Explainer video (1 min 40) | Media conference | |
12 July |
5.5 | Media release | ||
24 May | 5.5 | Media release | Statement | Explainer video (1 min 50) | Media conference | |
5 April | 5.25 | Media release | ||
22 February | 4.75 | Media release | Statement | Media conference | |
2022 |
||||
23 November | 4.25 | Media release | Statement | Media conference | |
5 October | 3.5 | Media release | ||
17 August | 3.0 | Media release | Statement | Media conference | |
13 July | 2.5 | Media release | ||
25 May | 2.0 | Media release | Statement | Media conference | |
13 April | 1.5 | Media release | ||
23 February | 1.0 | Media release | Statement | Media conference | |
2021 |
||||
24 November | 0.75 | Media release | Statement | Media conference | |
6 October | 0.50 | Media release | ||
18 August | 0.25 | Media release | Statement | Media conference | |
14 July | 0.25 | Media release | Additional asset purchases under the Large-scale Asset Purchases (LSAP) programme halted by 23 July 2021. | |
26 May | 0.25 | Media release | Statement | Media conference | |
14 April | 0.25 | Media release | ||
24 February | 0.25 | Media release | Statement | Media conference | |
2020 |
||||
11 November | 0.25 | Media release | Statement | Media conference | Funding for Lending Programme (FLP) announced for deployment in December 2020. |
23 September | 0.25 | Media release | ||
12 August | 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 | 0.25 | Media release | ||
13 May | 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 | 0.25 | Media release | $3 billion of Local Government Funding Agency (LGFA) bonds added to potential LSAP. |
|
23 March | 0.25 | Media release | LSAP of up to $30 billion of NZ government bonds announced. |
|
16 March | 0.25 | Media release | Forward guidance that OCR will remain at this level for at least 12 months. |
|
12 February | 1.0 | Media release | Statement | Media conference | |
2019 |
||||
13 November | 1.0 | Media release | Statement | Media conference | |
25 September |
1.0 | Media release | ||
7 August |
1.0 | Media release | Statement | Media conference | |
26 June | 1.5 | Media release | ||
8 May | 1.5 | Media release | Statement | Media conference | |
27 March | 1.75 | Media release | ||
13 February | 1.75 | Media release | Statement | Media conference | |
2018 |
||||
8 November | 1.75 | Media release | Statement | Media conference | Highlights (5 min) | |
27 September | 1.75 | Media release | ||
9 August | 1.75 | Media release | Statement | Media conference | Highlights (8 min) | |
28 June | 1.75 | Media release | ||
10 May 2018 | 1.75 | Media release | Statement | Media conference | Highlights (5 min) | |
22 March | 1.75 | Media release | ||
8 February | 1.75 | Media release | Statement | Media conference | Highlights (8 min) | |
2017 |
||||
9 November | 1.75 | Media release | Statement | Media conference | Highlights (10 min) | |
28 September | 1.75 | Media release | ||
10 August | 1.75 | Media release | Statement | Media conference | Highlights (6 min) | |
22 June | 1.75 | Media release | ||
11 May | 1.75 | Media release | Statement | Media conference | Highlights (4 min) | |
23 March | 1.75 | Media release | ||
9 February | 1.75 | Media release | Statement | Media conference | Highlights (10 min) | |
2016 |
||||
10 November | 1.75 | Media release | Statement | Media conference | Highlights (5 min) | |
22 September | 2.0 | Media release | ||
11 August | 2.0 | Media release | Statement | Media conference | Highlights (5 min) | |
9 June | 2.25 | Media release | Statement | Media conference | Highlights (8 min) | |
28 April | 2.25 | Media release | ||
10 March | 2.25 | Media release | Statement | Media conference | Highlights (4 min) | |
28 January | 2.5 | Media release | ||
2015 |
||||
10 December | 2.5 | Media release | Statement | Media conference | Highlights (5 min) | |
29 October | 2.75 | Media release | ||
10 September | 2.75 | Media release | Statement | Media conference | Highlights (5 min) | |
23 July | 3.0 | Media release | ||
11 June | 3.25 | Media release | Statement | Media conference | Highlights (4 min) | |
30 April | 3.5 | Media release | ||
12 March | 3.5 | Media release | Statement | Media conference | Highlights (6 min) | |
29 January | 3.5 | Media release | ||
2014 |
||||
11 December | 3.5 | Media release | Statement | Media conference | Highlights (4 min) | |
30 October | 3.5 | Media release | ||
11 September | 3.5 | Media release | Statement | Media conference | |
24 July | 3.5 | Media release | ||
12 June | 3.25 | Media release | Statement | Media conference | |
24 April | 3.0 | Media release | ||
13 March | 2.75 | Media release | Statement | Media conference | |
30 January | 2.5 | Media release | ||
2013 |
||||
12 December | 2.5 | Media release | Statement | Media conference | |
31 October | 2.5 | Media release | ||
12 September | 2.5 | Media release | Statement | Media conference | |
25 July | 2.5 | Media release | ||
13 June | 2.5 | Media release | Statement | Media conference | |
24 April | 2.5 | Media release | ||
14 March | 2.5 | Media release | Statement | Media conference | |
31 January | 2.5 | Media release | ||
2012 |
||||
6 December | 2.5 | Media release | Statement | Media conference | |
25 October | 2.5 | Media release | ||
13 September | 2.5 | Media release | Statement | Media conference | |
26 July | 2.5 | Media release | ||
14 June | 2.5 | Media release | Statement | Media conference | |
26 April | 2.5 | Media release | ||
8 March | 2.5 | Media release | Statement | Media conference | |
26 January | 2.5 | Media release | ||
2011 |
||||
8 December | 2.5 | Media release | Statement | Media conference | |
27 October | 2.5 | Media release | ||
15 September | 2.5 | Media release | Statement | ||
28 July | 2.5 | Media release | ||
9 June | 2.5 | Media release | Statement | Media conference | |
28 April | 2.5 | Media release | ||
10 March | 2.5 | Media release | Statement | Media conference | |
27 January | 3.0 | Media release | ||
2010 |
||||
9 December | 3.0 | Media release | Statement | Media conference | |
28 October | 3.0 | Media release | ||
16 September | 3.0 | Media release | Statement | Media conference | |
29 July | 3.0 | Media release | ||
10 June | 2.75 | Media release | Statement | Media conference | |
29 April | 2.5 | Media release | ||
11 March | 2.5 | Media release | Statement | Media conference | |
28 January | 2.5 | Media release | ||
2009 |
||||
10 December | 2.5 | Media release | Statement | Media conference | |
29 October | 2.5 | Media release | ||
10 September | 2.5 | Media release | Statement | ||
30 July | 2.5 | Media release | ||
11 June | 2.5 | Media release | Statement | ||
30 April | 2.5 | Media release | ||
12 March | 3.0 | Media release | Statement | Media conference | |
29 January | 3.5 | Media release | ||
2008 |
||||
4 December | 5.0 | Media release | Statement | ||
23 October | 6.5 | Media release | ||
11 September | 7.5 | Media release | Statement | ||
24 July | 8.0 | Media release | ||
5 June | 8.25 | Media release | Statement | ||
24 April | 8.25 | Media release | ||
6 March | 8.25 | Media release | Statement | ||
24 January | 8.25 | Media release | ||
2007 |
||||
6 December | 8.25 | Media release | Statement | ||
25 October | 8.25 | Media release | ||
13 September | 8.25 | Media release | Statement | ||
26 July 2007 | 8.25 | Media release | ||
7 June | 8.0 | Media release | Statement | ||
26 April | 7.75 | Media release | ||
8 March | 7.5 | Media release | Statement | ||
25 January | 7.25 | Media release | ||
2006 |
||||
7 December | 7.25 | Media release | Statement | ||
26 October 2006 | 7.25 | Media release | ||
14 September | 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 | 7.25 | Media release | Statement | ||
26 January | 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 |