What is OCR?
The OCR stands for Official Cash Rate. The OCR is the interest rate set by the RBNZ (Reserve Bank of New Zealand) and is a key tool used to achieve monetary policy objectives such as maintaining price stability (inflation) and sustainable employment.
Changes in OCR impact interest rates (lending and borrowing) throughout the economy. As a result, changes in OCR influence spending, investments, and inflation.
When the RBNZ announces OCR, it signals its intentions on the overall economic environment and intended direction for monetary policy.
OCR Announcement dates for 2024:
28th February
10th April
22nd May
10th July
14th August
9th October
27th November
Also see our blog article on CPI announcements. For updates and latest blogs, be sure to subscribe to the Vive Newsletter.
