OCR is being held at 0.25 percent The Monetary Policy Committee agreed to continue with the Large Scale Asset Purchase (LSAP) Programme up to $100 billion. This action is necessary to further lower household and business borrowing rates in order to achieve the Committee’s inflation and employment remit. The Official Cash Rate (OCR) is being held at 0.25 percent in accordance with the guidance issued on 16 March. 24-09-2020 more >>
RBNZ removes LVR restrictions The Reserve Bank has today decided to remove mortgage loan-to-value ratio (LVR) restrictions for 12 months. The decision was made to ensure LVR restrictions didn’t have an undue impact on borrowers or lenders as part of the mortgage deferral scheme implemented in response to the COVID-19 pandemic. 30-04-2020 more >>
Official Cash Rate (OCR) unchanged at 1.00 percent The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment remains around its maximum sustainable level while inflation remains below the 2 percent target mid-point but within our target range. Economic developments since the August Statement do not warrant a change to the already stimulatory monetary setting at this time. 13-11-2019 more >>
Reserve Bank to ease loan-to-value ratio restrictions in January 2019 From 1 January 2019 the changes are - up to 20 percent (increased from 15 percent) of new mortgage loans to owner occupiers can have deposits of less than 20 percent and up to 5 percent of new mortgage loans to property investors can have deposits of less than 30 percent (lowered from 35 percent). 28-11-2018 more >>
The Official Cash Rate (OCR) remains at 1.75 percent. Statement by Reserve Bank Governor Adrian Orr: We expect to keep the OCR at this level through 2019 and into 2020. The direction of our next OCR move could be up or down. 27-09-2018 more >>
OCR remains at 1.75 percent Statement by Reserve Bank Governor Adrian Orr: The Official Cash Rate (OCR) will remain at 1.75 percent for now. However, we are well positioned to manage change in either direction - up or down - as necessary. 28-06-2018 more >>
The Reserve Bank is undertaking a modest easing of the LVR restrictions from 1 January 2018 Reserve Bank Governor says "Over the past six months, pressures in the housing market have continued to moderate due to the tightening of LVR restrictions in October 2016, a more general firming of bank lending standards and an increase in mortgage interest rates in early 2017. Housing market policies announced by the Government are also expected to have a dampening effect on the housing market. In light of these developments, the Reserve Bank is undertaking a modest easing of the LVR restrictions" 29-11-2017 more >>
OCR remains unchanged at 1.75 percent The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent. Global economic growth has increased and become more broad-based. Â However, major challenges remain with on-going surplus capacity and extensive political uncertainty. 23-06-2017 more >>
Minister welcomes DTI consultation Finance Minister Steven Joyce has today welcomed the release of the Reserve Bank's consultation document on the use of Debt to Income ratios for mortgage borrowers as an additional macro-prudential tool. 10-06-2017 more >>
NZ's financial system is sound but continues to face risks New Zealand’s financial system remains sound and the risks facing the system have reduced in the past six months, Reserve Bank Governor Graeme Wheeler said today when releasing the Bank’s May Financial Stability Report. 31-05-2017 more >>
Reserve Bank defers start of proposed changes to investor LVR The Reserve Bank is deferring the start of the proposed changes to investor loan-to-value restrictions (LVRs) nationwide from 1 September to 1 October 2016, based on feedback from the banking industry from its recent consultation on the proposals. 12-08-2016 more >>
