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  2. Official cash rate - Wikipedia

    en.wikipedia.org/wiki/Official_Cash_Rate

    The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans between commercial banks. This allows the Reserve Bank of Australia and the Reserve Bank of New Zealand to adjust the interest rates that apply in each country's economy. The ...

  3. UPDATE 3-New Zealand delivers record rate hike, flags 2023 ...

    www.aol.com/news/1-zealand-delivers-record-rate...

    The Reserve Bank of New Zealand (RBNZ) raised the official cash rate (OCR) by 75 basis points to 4.25% and crucially now sees rates peaking at 5.5%, compared with a previous forecast of 4.1%.

  4. New Zealand dollar - Wikipedia

    en.wikipedia.org/wiki/New_Zealand_dollar

    The New Zealand dollar contributes greatly to the total global exchange market—far in excess of New Zealand's relative share of population or global GDP. According to the Bank for International Settlements , the New Zealand dollar's share of global foreign exchange market daily turnover in 2016 was 2.1% (up from 1.6% in 2010) giving it a rank ...

  5. Reserve Bank of New Zealand - Wikipedia

    en.wikipedia.org/wiki/Reserve_Bank_of_New_Zealand

    The mechanism of this is the official cash rate which affects short-term interest rates. The bank will provide cash overnight at 0.50% above the cash rate to banks against good security with no limit. Furthermore, the bank will accept deposits from financial institutions with interest usually at the official cash rate.

  6. New Zealand's central bank raises key interest rate to 5.5% ...

    www.aol.com/news/zealands-central-bank-raises...

    New Zealand's central bank raised its benchmark interest rate again Wednesday to 5.5% but signaled its next move would be a cut, sparking a sell-off in the currency. Wednesday's quarter-point rate ...

  7. List of sovereign states by central bank interest rates

    en.wikipedia.org/wiki/List_of_sovereign_states...

    This is a list of countries by annualized interest rate set by the central bank for charging commercial, ... New Zealand: 4.25 0.50: 27 November 2024 [68] 1.95

  8. 2024 in New Zealand - Wikipedia

    en.wikipedia.org/wiki/2024_in_New_Zealand

    Members of the New Zealand Police Association vote to reject the Government's latest pay offer, which includes an overtime rate, NZ$1,500 cash payment and a pay increase for the third year. [ 119 ] 23 April – The Wellington City Council cancels a NZ$32 million agreement with cinema chain Reading Cinemas to refurbish and earthquake-strengthen ...

  9. Economy of New Zealand - Wikipedia

    en.wikipedia.org/wiki/Economy_of_New_Zealand

    From then on the Reserve Bank focused on keeping inflation low and stable, using the Official Cash Rate (OCR) – the price of borrowing money in New Zealand – as its primary means to do so. As a result, inflation rates fell to an average of 2.5% in the 1990s, compared to 12% in the 1970s. [ 55 ]