New Zealand Policy Rate
1999 - 2023 | Monthly | % pa | CEIC Data
Key information about New Zealand Policy Rate
- New Zealand cash rate (Policy Rate: Month End: New Zealand: Official Cash Rate) was set at 5.50 % pa in May 2023, compared with 5.25 % pa in the previous Apr 2023.
- New Zealand Policy Rate averaged 3.00 % pa and is updated monthly, available from Mar 1999 to May 2023.
- The data reached an all-time high of 8.25 % pa in Jun 2008 and a record low of 0.25 % pa in Sep 2021.
The Official Cash Rate ws introduced in March 1999 and is reviewed eight times a year by the Reserve Bank of New Zealand.
Related information about New Zealand Policy Rate
- In the latest reports, New Zealand Short Term Interest Rate: Month End: New Zealand: Bank Accepted Bills: 90 Days was reported at 5.69 % pa in May 2023.
- Its Long Term Interest Rate (Government Bond Yield: 10 Years) was reported at 4.27 % pa in May 2023.
- New Zealand Exchange Rate against USD averaged 1.61 (USD/NZD) in May 2023.
- Its Real Effective Exchange Rate was 95.34 in Apr 2023.
View New Zealand's Policy Rate from Mar 1999 to May 2023 in the chart:
What was New Zealand's Policy Rate in May 2023?
New Zealand cash rate (Policy Rate: Month End: New Zealand: Official Cash Rate) was set at 5.50 % pa in May 2023, compared with 5.25 % pa in the previous Apr 2023. See the table below for more data.
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 5.50 May 2023 | 5.25 Apr 2023 | 0.25 Sep 2021 | 8.25 Jun 2008 | % pa | monthly | Mar 1999 - May 2023 |
Policy Rate by Country Comparison
| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (% pa) | 3.00 Jul 2024 | monthly | Jan 2000 - Jul 2024 |
| Algeria (% pa) | 3.00 Jul 2024 | monthly | Jan 1963 - Jul 2024 |
| Argentina (%) | 39.41 Sep 2024 | monthly | Aug 1985 - Sep 2024 |
| Armenia (% pa) | 7.50 Sep 2024 | monthly | May 2001 - Sep 2024 |
| Australia (% pa) | 4.35 Sep 2024 | monthly | Aug 1990 - Sep 2024 |
| Austria (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Azerbaijan (% pa) | 7.25 Sep 2024 | monthly | Jan 2005 - Sep 2024 |
| Bahrain (% pa) | 5.75 Sep 2024 | monthly | Jan 2007 - Sep 2024 |
| Bangladesh (% pa) | 9.50 Sep 2024 | monthly | Sep 2009 - Sep 2024 |
| Belarus (% pa) | 9.50 Jul 2024 | monthly | Jul 1991 - Jul 2024 |
| Belgium (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Bolivia (% pa) | 3.02 Sep 2024 | monthly | Jan 2013 - Sep 2024 |
| Botswana (% pa) | 3.75 Apr 2022 | monthly | Aug 1976 - Apr 2022 |
| Brazil (% pa) | 10.75 Sep 2024 | monthly | Mar 1999 - Sep 2024 |
| Bulgaria (% pa) | 3.43 Oct 2024 | monthly | Feb 1991 - Oct 2024 |
| Canada (% pa) | 4.25 Sep 2024 | monthly | Dec 1992 - Sep 2024 |
| Chile (% pa) | 5.50 Sep 2024 | monthly | May 1995 - Sep 2024 |
| China (% pa) | 2.65 Jun 2023 | monthly | Jan 2016 - Jun 2023 |
| Colombia (% pa) | 10.75 Sep 2024 | monthly | Apr 1995 - Sep 2024 |
| Croatia (% pa) | 3.00 Dec 2022 | monthly | Dec 1992 - Dec 2022 |
| Cyprus (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Czech Republic (% pa) | 3.25 Sep 2024 | monthly | Jan 1993 - Sep 2024 |
| Denmark (% pa) | 3.10 Sep 2024 | monthly | Aug 1914 - Sep 2024 |
| Ecuador (% pa) | 11.68 Sep 2024 | monthly | Jul 1995 - Sep 2024 |
| Egypt (% pa) | 27.75 Sep 2024 | monthly | Jan 1991 - Sep 2024 |
| Estonia (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| European Union (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Finland (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| France (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Georgia (% pa) | 8.00 Sep 2024 | monthly | Jan 2008 - Sep 2024 |
| Germany (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Ghana (% pa) | 29.50 May 2023 | monthly | Nov 2002 - May 2023 |
| Greece (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Hong Kong SAR, China (% pa) | 5.25 Sep 2024 | monthly | Jun 1992 - Sep 2024 |
| Hungary (% pa) | 6.50 Sep 2024 | monthly | Oct 1990 - Sep 2024 |
| Iceland (% pa) | 10.00 Sep 2024 | monthly | Jan 1994 - Sep 2024 |
| India (% pa) | 6.50 Sep 2024 | monthly | Apr 2001 - Sep 2024 |
| Indonesia (% pa) | 6.00 Sep 2024 | monthly | Jun 2015 - Sep 2024 |
| Ireland (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Israel (% pa) | 4.50 Sep 2024 | monthly | Dec 1998 - Sep 2024 |
| Italy (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Ivory Coast (% pa) | 2.50 Mar 2017 | monthly | Jan 1964 - Mar 2017 |
| Japan (% pa) | -0.10 Jun 2023 | monthly | Nov 2008 - Jun 2023 |
| Jordan (% pa) | 8.00 Sep 2024 | monthly | Dec 1965 - Sep 2024 |
| Kazakhstan (% pa) | 14.25 Sep 2024 | monthly | Feb 1992 - Sep 2024 |
| Kenya (% pa) | 12.75 Sep 2024 | monthly | Jul 2003 - Sep 2024 |
| South Korea (% pa) | 3.50 Sep 2024 | monthly | May 1999 - Sep 2024 |
| Kosovo (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Kuwait (% pa) | 4.00 Sep 2024 | monthly | Jul 1999 - Sep 2024 |
| Kyrgyzstan (% pa) | 9.00 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Laos (% pa) | 7.50 May 2023 | monthly | Dec 1992 - May 2023 |
| Latvia (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Lebanon (% pa) | 10.00 Jan 2023 | monthly | Apr 1964 - Jan 2023 |
| Lithuania (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Luxembourg (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Macau SAR, China (% pa) | 5.25 Sep 2024 | monthly | Dec 1999 - Sep 2024 |
| North Macedonia (% pa) | 6.05 Sep 2024 | monthly | Jan 2002 - Sep 2024 |
| Malawi (% pa) | 26.00 Sep 2024 | monthly | Jan 1980 - Sep 2024 |
| Malaysia (% pa) | 3.00 Sep 2024 | monthly | Apr 2004 - Sep 2024 |
| Malta (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Mauritius (% pa) | 4.00 Sep 2024 | monthly | Dec 1999 - Sep 2024 |
| Mexico (% pa) | 10.50 Sep 2024 | monthly | Jan 2008 - Sep 2024 |
| Moldova (% pa) | 3.60 Sep 2024 | monthly | Feb 2001 - Sep 2024 |
| Mongolia (% pa) | 10.00 Sep 2024 | monthly | Jul 2007 - Sep 2024 |
| Montenegro (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Morocco (% pa) | 2.75 Sep 2024 | monthly | Jun 1995 - Sep 2024 |
| Myanmar (% pa) | 7.00 2024 | yearly | 1986 - 2024 |
| Nepal (% pa) | 6.50 Sep 2024 | monthly | Jul 2003 - Sep 2024 |
| Netherlands (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| New Zealand (% pa) | 5.50 May 2023 | monthly | Mar 1999 - May 2023 |
| Nigeria (% pa) | 27.25 Sep 2024 | monthly | Dec 2006 - Sep 2024 |
| Norway (% pa) | 4.50 Aug 2024 | monthly | Jan 1991 - Aug 2024 |
| Oman (% pa) | 5.50 Oct 2024 | monthly | May 2007 - Oct 2024 |
| Pakistan (% pa) | 18.50 Sep 2024 | monthly | Feb 1992 - Sep 2024 |
| Paraguay (% pa) | 6.00 Sep 2024 | monthly | Jul 2010 - Sep 2024 |
| Peru (% pa) | 5.25 Sep 2024 | monthly | Sep 2003 - Sep 2024 |
| Philippines (% pa) | 7.00 May 2024 | monthly | Jun 2016 - May 2024 |
| Poland (% pa) | 5.75 Oct 2024 | monthly | Jan 2005 - Oct 2024 |
| Portugal (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Qatar (% pa) | 5.70 Sep 2024 | monthly | Mar 2003 - Sep 2024 |
| Romania (% pa) | 6.50 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Russia (% pa) | 19.00 Sep 2024 | monthly | Sep 2013 - Sep 2024 |
| Saudi Arabia (% pa) | 5.50 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
| Serbia (% pa) | 6.00 Aug 2024 | monthly | Jan 2001 - Aug 2024 |
| Singapore (% pa) | 4.00 Jun 2023 | monthly | Jul 2005 - Jun 2023 |
| Slovakia (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Slovenia (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| South Africa (% pa) | 8.00 Sep 2024 | monthly | Nov 1999 - Sep 2024 |
| Spain (% pa) | 3.65 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Sri Lanka (% pa) | 8.25 Sep 2024 | monthly | Jan 1997 - Sep 2024 |
| Sweden (% pa) | 3.50 Sep 2024 | monthly | Jan 1987 - Sep 2024 |
| Switzerland (% pa) | 1.21 Sep 2024 | monthly | Jun 1999 - Sep 2024 |
| Syria (% pa) | 5.00 Sep 2024 | monthly | Jan 1962 - Sep 2024 |
| Taiwan (% pa) | 2.00 Sep 2024 | monthly | Jul 1961 - Sep 2024 |
| Tajikistan (% pa) | 9.00 Sep 2024 | monthly | Jun 1995 - Sep 2024 |
| Thailand (% pa) | 2.50 Sep 2024 | monthly | May 2000 - Sep 2024 |
| Tunisia (% pa) | 8.00 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
| Turkey (% pa) | 50.00 Sep 2024 | monthly | Jun 1996 - Sep 2024 |
| Ukraine (% pa) | 13.00 Sep 2024 | monthly | Dec 1992 - Sep 2024 |
| United Arab Emirates (% pa) | 4.90 Sep 2024 | monthly | Nov 2007 - Sep 2024 |
Accurate Macro & Micro Economic Data You Can Trust
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Learn more about what we doNew Zealand Key Series
| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | -1.1 Mar 2024 | quarterly | Dec 1999 - Mar 2024 |
| Consolidated Fiscal Balance (USD mn) | -2,917.988 Mar 2024 | quarterly | Mar 1999 - Mar 2024 |
| Tax Revenue (USD mn) | 80,859.209 2024 | yearly | 1999 - 2024 |
| Tax Revenue: % of GDP (%) | 30.8 2023 | yearly | 1999 - 2023 |
| National Government Debt (USD mn) | 101,964.3 Mar 2024 | quarterly | Dec 2006 - Mar 2024 |
| Government Debt: % of GDP (%) | 41.5 Mar 2024 | quarterly | Dec 2006 - Mar 2024 |
| Forecast: Government Expenditure (NZD bn) | 202.357 2029 | yearly | 1985 - 2029 |
| Forecast: Government Net Debt (NZD bn) | 240.233 2028 | yearly | 1985 - 2028 |
| Forecast: Government Revenue (NZD bn) | 198.840 2028 | yearly | 1985 - 2028 |
| General Government: ytd: Expenses (NZD mn) | 127,018.000 Mar 2024 | quarterly | Mar 1999 - Mar 2024 |
| General Government: ytd: Revenue (NZD mn) | 122,253.000 Mar 2024 | quarterly | Mar 1999 - Mar 2024 |
| General Government: ytd: Borrowings (NZD mn) | 250,825.000 Mar 2024 | quarterly | Jun 2002 - Mar 2024 |
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | 3.748 2028 | yearly | 1980 - 2028 |
| Trade Balance (USD mn) | -1,341.2 Aug 2024 | monthly | Jan 1960 - Aug 2024 |
| Total Exports (USD mn) | 3,024.3 Aug 2024 | monthly | Jan 1957 - Aug 2024 |
| Total Exports Growth (%) | -0.1 Aug 2024 | monthly | Jan 1952 - Aug 2024 |
| Aluminum: Exports (USD th) | 796,821.124 2023 | yearly | 1995 - 2023 |
| Exports: Medicament (USD th) | 148,665.511 2022 | yearly | 1995 - 2022 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 256,958.049 2022 | yearly | 1995 - 2022 |
| Total Imports (USD mn) | 4,365.6 Aug 2024 | monthly | Jan 1960 - Aug 2024 |
| Total Imports Growth (%) | -1.0 Aug 2024 | monthly | Jan 1961 - Aug 2024 |
| Imports: Medicament (USD th) | 974,970.031 2022 | yearly | 1995 - 2022 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 727,040.199 2022 | yearly | 1995 - 2022 |
| Total Exports to USA (USD mn) | 438.867 Aug 2024 | monthly | Jul 1981 - Aug 2024 |
| Total Imports from USA (USD mn) | 478.016 Aug 2024 | monthly | Jan 1981 - Aug 2024 |
| Total Exports to China (USD mn) | 788.520 Aug 2024 | monthly | Jul 1981 - Aug 2024 |
| Total Imports from China (USD mn) | 846.686 Aug 2024 | monthly | Jul 1982 - Aug 2024 |
| Term Trade Index (Jun2002=1000) | 1,393.000 Jun 2024 | quarterly | Mar 1957 - Jun 2024 |
| Export Volume Index: Exclude Re Export (Jun2002=1000) | 1,584.000 Jun 2024 | quarterly | Mar 1951 - Jun 2024 |
| Export Volume Index: Exclude Re Export: sa (Jun2002=1000) | 1,441.000 Jun 2024 | quarterly | Jun 1990 - Jun 2024 |
| Import Volume Index (Jun2002=1000) | 2,414.000 Jun 2024 | quarterly | Mar 1949 - Jun 2024 |
| Import Volume Index: sa (Jun2002=1000) | 2,572.000 Jun 2024 | quarterly | Jun 1990 - Jun 2024 |
| Export Value Index (2015=100) | 130.280 2021 | yearly | 1995 - 2021 |
| Import Value Index (2015=100) | 136.389 2021 | yearly | 1995 - 2021 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 0.5 Dec 2017 | quarterly | Mar 1996 - Dec 2017 |
| Household Debt: % of GDP (%) | 91.0 Jun 2024 | quarterly | Dec 1990 - Jun 2024 |
| Money Supply M1 (USD mn) | 72,117.571 Aug 2024 | monthly | Dec 2016 - Aug 2024 |
| Money Supply M2 (USD mn) | 259,059.230 Aug 2024 | monthly | Mar 1988 - Aug 2024 |
| M2 Growth (%) | 2.9 Aug 2024 | monthly | Mar 1989 - Aug 2024 |
| Foreign Exchange Reserves (USD mn) | 16,983.9 Aug 2024 | monthly | Sep 2005 - Aug 2024 |
| Foreign Exchange Reserves: % of GDP (%) | 5.764 Jun 2024 | quarterly | Sep 2005 - Jun 2024 |
| Foreign Exchange Reserves: Months of Import (NA) | 3.8 Aug 2024 | monthly | Sep 2005 - Aug 2024 |
| Gold Reserves (USD mn) | 0.000 Sep 2024 | monthly | Dec 1950 - Sep 2024 |
| Total Deposits (USD mn) | 284,477.278 Aug 2024 | monthly | Dec 2016 - Aug 2024 |
| Total Deposits Growth (%) | 3.5 Aug 2024 | monthly | Dec 2017 - Aug 2024 |
| Domestic Credit (USD mn) | 372,709.2 Aug 2024 | monthly | Mar 1988 - Aug 2024 |
| Domestic Credit Growth (%) | 1.0 Aug 2024 | monthly | Mar 1989 - Aug 2024 |
| Credit to Households (USD bn) | 234.071 Dec 2023 | quarterly | Dec 1990 - Dec 2023 |
| Credit to Private Non-Financial Sector (USD bn) | 412.164 Dec 2023 | quarterly | Mar 1960 - Dec 2023 |
| Household Debt (USD mn) | 235,826.5 Aug 2024 | monthly | Dec 1990 - Aug 2024 |
| Total Loans (USD mn) | 353,722.905 Aug 2024 | monthly | Dec 2016 - Aug 2024 |
| Total Loans Growth (%) | 2.78 Aug 2024 | monthly | Dec 2017 - Aug 2024 |
| Private Debt: % of Nominal GDP (%) | 137.41 Jun 2024 | quarterly | Mar 1988 - Jun 2024 |
| Depository Corp: Money Supply: Broad Money (NZD mn) | 415,026.000 Aug 2024 | monthly | Mar 1988 - Aug 2024 |
| Depository Corp: Money Supply: Broad Money: Narrow Money (NZD mn) | 115,536.000 Aug 2024 | monthly | Dec 2016 - Aug 2024 |
| Depository Corp: Domestic Credit (NZD mn) | 597,099.000 Aug 2024 | monthly | Mar 1988 - Aug 2024 |
| Official Reserve Assets (NZD mn) | 32,573.438 Aug 2024 | monthly | Sep 2005 - Aug 2024 |
| Official Reserve Assets: Foreign Currency Reserves (NZD mn) | 21,100.345 Aug 2024 | monthly | Sep 2005 - Aug 2024 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | -7.4 May 2023 | monthly | Aug 2003 - May 2023 |
| House Price Inflation: Net Percent Expecting (%) | 64.900 Jun 2024 | quarterly | Jun 2011 - Jun 2024 |
| House Price Inflation: Net Percent Expecting Higher (%) | -47.300 Jun 2024 | quarterly | Mar 2022 - Jun 2024 |
| Performance Manufacturing Index (NA) | 47.800 Sep 2024 | monthly | Aug 2002 - Sep 2024 |
| Business Outlook Survey: Retail: Business Confidence Index (Point) | 75.400 Sep 2024 | monthly | Feb 1991 - Sep 2024 |
| Business Outlook Survey: Manufacturing: Business Confidence Index (Point) | 73.900 Sep 2024 | monthly | Feb 1991 - Sep 2024 |
| Business Outlook Survey: All Industries: Business Confidence Index (Point) | 60.900 Sep 2024 | monthly | Feb 1991 - Sep 2024 |
| Business Outlook Survey: Service: Business Confidence Index (Point) | 53.600 Sep 2024 | monthly | Feb 1991 - Sep 2024 |
| Business Outlook Survey: Construction: Business Confidence Index (Point) | 61.000 Sep 2024 | monthly | Feb 1991 - Sep 2024 |
More Indicators for New Zealand
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