Reserve Bank of New Zealand meeting —
At its 20 August 2025 meeting, the Reserve Bank of New Zealand lowered its policy rate to 3.00%.
Decision
cut — 3.00%
Key passages
We've reduced the OCR to 3%
Higher global tariffs and uncertainty could reduce New Zealand’s economic activity and inflation.
Meeting documents
Background reading
Previous meeting · Next meeting · Open the full decision workspace
The Cadence Brief
The one number that moved central bank pricing — delivered each weekday morning.