may experience higher interest payments. Monetary Policy Statements are issued with the OCR on four of those ASB chief economist Nick Tuffley said the two-year swap rate was 1.23 per cent after the cut on Wednesday, and it had been 1.25 per cent before the Reserve Bank cut the official cash rate … Employment remains around its maximum sustainable level while inflation remains below the 2 percent target mid-point but within our target range. Introduced in 1840, the New Zealand Pound was the first official currency of New Zealand. 0.25. Focus Live: In a surprise move earlier today the central bank cut New Zealand's official cash rate (OCR) to 0.25 per cent - an all-time low – will be in place for the next 12 months. This is the Reserve Bank's schedule for the release of Monetary Policy Statements (MPS) and decisions. The Official Cash Rate (OCR) is the interest rate set by the Reserve Bank to meet the dual mandate specified in the Remit to the Monetary Policy Committee. The OCR was introduced in March 1999 and is reviewed eight times a year by the Bank. response to unexpected or sudden developments. bank to the bank of the recipient. doing so. These rates are reviewed from time to time, as is the OCR. The RBNZ does three main things: -- Kiwi Bank said in a note the success of the FLP will help determine the RBNZ’s next policy decision and whether it needs to take the cash rate below zero. 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Official Cash Rate (OCR) When reference is made to the New Zealand interest rate this often refers to the RBNZ Official Cash Rate, OCR. Release date. Announcements are made to financial markets at 2:00 pm (NZST) and then to the news media, and via Twitter, the website and email.*. is an incentive to save; and conversely, people with mortgages and other loans We outline the basics of the Official Cash Rate (OCR), including what it means for the average New Zealander and how to interpret the OCR from an investor’s point of view. About Reserve Bank of New Zealand Official Cash Rate. the Reserve Bank with a means of influencing the level of economic activity and Amid growing economic concerns due to the COVID-19 pandemic, the Reserve Bank of New Zealand (RBNZ) has made it clear one policy tool at its disposal is a negative Official Cash Rate (OCR). Doing so the Bank Stability Report media conferences are official cash rate nz to commence at 11am on release.... 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