Housing pressures are easing gradually Pressures in the New Zealand housing market are easing gradually but risks remain, the Deputy Governor of the Reserve Bank, Grant Spencer, said in a speech today. 09-05-2014 more >>
How does the OCR actually affect interest rates? The Official Cash Rate (OCR) was raised twice recently, the first change since early 2009. Floating mortgage interest rates for most banks moved up by the same amount almost immediately. But what exactly is the OCR and how does it affect the mortgage interest rates we pay? 05-05-2014 more >>
Reserve Bank raises OCR to 3 percent Statement issued by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today increased the OCR by 25 basis points to 3 percent. 24-04-2014 more >>
OCR move unlikely this week: Survey Economists aren’t expecting an increase in the official cash rate this week but it’s not can impossibility, a new survey has shown. The latest CPI data, which showed much stronger inflation than expected, had prompted some to question whether the Reserve Bank might move sooner rather than later on the rate. 28-01-2014 more >>
Hint of optimism in OCR announcement The decision this morning to leave the official cash rate (OCR) unchanged at 2.5% hasn’t surprised anyone – but the hint of optimism included with the Reserve Bank governor’s statement has. 25-10-2012 more >>
Familiar cure for bank hangover BNZ chief economist Tony Alexander says central banks around the world are pursuing a “hair of the dog that bit you†solution to the global financial crisis, by flooding the market with cash. 12-10-2012 more >>
Prices acquire extra importance Economists are watching house prices with extra interest since it was announced that the Reserve Bank will now have to take asset prices into account in setting the Official Cash Rate. 24-09-2012 more >>
RBNZ targets house prices The new Reserve Bank Governor must increase the OCR if house prices rise rapidly, even if inflation is on target. Finance Minister Bill English and RBNZ Governor-Designate Graeme Wheeler signed a new Policy Targets Agreement (PTA) yesterday. The Reserve Bank Act states that the Governor is accountable for maintaining price stability. 21-09-2012 more >>
OCR stays at 2.5% The Reserve Bank has kept its official cash rate at 2.50% and says little has changed since its previous Monetary Policy Statement in June. “New Zealand’s trading partner outlook remains weak,†Reserve Bank governor Alan Bollard said. “Several euro-area economies are in recession and Chinese growth has slowed. The risk of significant deterioration in the euro area persists.†13-09-2012 more >>
Westpac issues warnings Westpac says that if the Official Cash Rate doesn’t rise by July 2013, the country’s housing market could go from warm to “positively frothyâ€. 01-08-2012 more >>
Economists unruffled by OCR statement This morning's announcement that the OCR will remain at 2.5% has prompted minimal reaction. Westpac said the Reserve Bank decision to leave the Official Cash Rate at 2.5% hadn’t affected its prediction that the first increase would be in July 2012. 26-07-2012 more >>
Bollard spooks market Reserve Bank governor Alan Bollard spooked financial markets slightly into thinking he may raise interest rates sooner than they had anticipated although, as expected, he's left rates unchanged for now. 27-10-2011 more >>
Bollard takes a bob-each-way to OCR review Reserve Bank governor Alan Bollard took a bob-each-way approach to reviewing interest rates which has left economists and financial markets scratching their heads. 28-07-2011 more >>
Bollard keeps interest rates on hold Home-owners can be confident floating mortgage rates won't be rising for some time following Reserve Bank governor Alan Bollard's expected decision to keep interest rates on hold. 27-01-2011 more >>
Bollard's predictions on interest rates welcome Reserve Bank governor Alan Bollard kept the official cash rate unchanged at 2.5%, as expected, and reiterated a mid-year start to rate hikes, saying the subdued pace of recovery will restrain inflation. 11-03-2010 more >>
Bollard holds OCR at 2.5% Reserve Bank Governor Alan Bollard held the official cash rate at 2.50% as expected and said while economic activity showing signs of stabilising, the high New Zealand dollar was helping to keep the economy "weak." The Kiwi tumbled after his statement. 30-07-2009 more >>
Bollard axes rates - 1 percent The Reserve Bank has slashed official interest rates an unprecendented 1 percentage point to 6.5 points, opening the way for cuts to mortgage rates but also highlighting the grim outlook facing the global economy 23-10-2008 more >>
