Changes to the 5 and 10-year bond benchmarks
17 November 2025
We have updated the benchmark bonds as follows:
- 5-year from May 2030 to the May 2031 bond
- 10-year from May 2025 to the May 2036 bond
The bonds have been updated to match the relevant 5 and 10-year benchmarks. This change is reflected in the series descriptions.
Changes to the 1 and 2-year bond benchmarks
3 November 2025
We have updated the benchmark bonds as follows:
- 1-year from May 2026 to the April 2027 bond
- 2-year from April 2027 to the May 2028 bond
The bonds have been updated to match the relevant 1 and 2-year benchmarks. This change is reflected in the series descriptions.
Introducing new Government bond and introducing new historical collection.
23 September 2025
The newly issued September 2050 Inflation Indexed Bond will be reflected in data published from today.
We have implemented a new historical data table for the Wholesale interest rates (B2) reflecting the new data sourced from the NZ Financial Markets Association.
- Wholesale Interest Rates – B2 Daily (1985-2017)
The new web table reinstates the previously published historical time series for the Cash Rates. The data for bank bills, secondary market government bonds and swap rate close is sourced from the NZ Financial Markets Association and are presented at their closing rates.
Changes to secondary market government bond yield and inflation indexed bond yield series
25 August 2025
We have made changes to the following series in the Wholesale interest rates (B2) publication, as a result of implementing a new data source:
- All underlying secondary market government bond daily yields and bond prices
- Secondary market government bond daily closing yields (1,2,5 and 10 year)
- Secondary market government bond monthly yields (1,2,5 and 10 year)
- Secondary market government bond monthly closing yields (1,2,5 and 10 year)
- Inflation Indexed bond monthly yields
- Inflation Indexed bond daily yields
We have implemented a new data source from the NZ Financial Markets Association for these series. Going forward, the above series will be closing (end of day) rates, rather than mid-day rates, and will be published with a one-day lag. Previously, indicative mid-rates for all underlying secondary market government bonds (including the 1, 2, 5, and 10-year benchmarks) and inflation indexed bonds were sourced daily at 11:10am. Both historical data and future publications will now be reported on a one-day lag, using the previous day’s closing rates.
As a result of this move to closing rates, the following xlsx files are redundant and will be discontinued:
- Wholesale Interest Rates – B2 Daily (2018-current)
- Wholesale Interest Rates – B2 Daily (1985-2017)
- Wholesale Interest Rates – B2 Daily close (2018-current)
- Wholesale Interest Rates – B2 Daily close (2010-2017)
- Wholesale Interest Rates – B2 Monthly (1985-current)
- Wholesale Interest Rates – B2 Monthly close (2010-current)
These have been replaced with new xlsx files:
- Wholesale Interest Rates – B2 Daily close (2018-current)
- Wholesale Interest Rates – B2 Monthly close (2018-current)
Publication of new series
12 May 2025
On the 12th May 2025, the RBNZ began publishing new series on the B2 web table:
- Overnight Deposit Rate
- Overnight Reverse Repurchase Facility Rate
For further details on these series information can be found in the series description and background information.
Introducing new Government bond
27 August 2024
The newly issued May 2036 nominal government bond will be reflected in data published from today.
Introducing new Government bond
16 May 2024
Today sees the introduction of the newly-issued May 2035 nominal government bond, which settled on 11 April 2024.
Introducing new Government bond
11 April 2024
The newly issued May 2035 nominal government bond will be reflected in data published from today.
Introducing new Government bond
18 March 2024
Today sees the introduction of the newly-issued May 2054 nominal government bond, which settled on 28 February 2024.
Introducing new Government bond
28 February 2024
The newly issued May 2054 nominal government bond will be reflected in data published from today.
Changes to the 1, 2, 5 and 10-year bond benchmarks
3 November 2023
We have updated all the benchmark bonds as follows:
- 1-year from May 2024 to the April 2025 bond
- 2-year from April 2025 to the May 2026 bond
- 5-year from May 2028 to the April 2029 bond;
- and 10-year from April 2033 to the May 2034 bond
The bonds have been updated to match the relevant 1, 2, 5 and 10-year marks. This change is reflected in the series descriptions.
Introducing new Government bond
14 March 2023
The newly issued May 2030 nominal government bond will be reflected in data published from today.
Introducing new Government bond
23 November 2022
The newly issued May 2034 nominal government bond will be reflected in data published from today.
Changes to the 1, 2, 5 and 10-year bond benchmarks
28 October 2022
We have updated all the benchmark bonds as follows:
- 1-year from April 2023 to the May 2024 bond
- 2-year from May 2024 to the April 2025 bond
- 5-year from April 2027 to the May 2028 bond; and
- 10-year from May 2032 to the April 2033 bond
The bonds have been updated to match the relevant 1, 2, 5 and 10-year marks. This change is reflected in the series descriptions.
Monthly snapshot graph of the New Zealand government yield curve
Monthly 'snapshot' graph of the New Zealand government yield curve published on the last working day of each month.