New Zealand Official Cash Rate

UPDATE: In a surprise move by the RBNZ the Official Cash Rate was reduced by 50bp to 7.50%

As the highest Interest Rate in the developed world, all eyes will turn to New Zealand on September 10th when the RBNZ will announce if there are any changes to its Monetary Policy. Currently the rate is 8.00%.

The FXEconostats Graph of the New Zealand Official Cash Rate shows that the Central Bank increased the rate on March 8th, 2007 to 7.50% and continued to hike it, until it reached a 8.25% high on July 26th, 2007. The Cash Rate remained at that level for a year, when it was cut by 25bp to 8.00%.

For more New Zeland Economic data, and other major economies please visit FXEconostats

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza