Measures Interest rate at which banks lend balances held at the RBNZ to other banks overnight;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Scheduled 8 times per year;
Next Release Nov 12, 2019
FF Notes The rate decision is usually priced into the market, so it tends to be overshadowed by the RBNZ Rate Statement, which is focused on the future;
Why Traders Care Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future;
Derived Via The RBNZ Governor decides where to set the rate after consulting senior bank staff and external advisers;
Also Called Interest Rates, OCR;
Acro Expand Reserve Bank of New Zealand (RBNZ), Official Cash Rate (OCR);HistoryActualForecastPreviousAug 6, 20191.00%1.25%1.50%Jun 25, 20191.50%1.50%1.50%May 7, 20191.50%1.75%1.75%Mar 26, 20191.75%1.75%1.75%Feb 12, 20191.75%1.75%1.75%MoreGraphRelated Stories
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