New Zealand’s banking system operationally ready for negative rates

Interest rates on paper

New Zealand’s central bank has completed operational work to implement negative interest rates should it need to, according to the bank’s latest monetary policy statement.

At the Reserve Bank of New Zealand’s monetary policy meeting (MPC) today (February 24), policymakers voted to leave the official cash rate (OCR) at 0.25%. The monetary policy committee also agreed to continue the asset purchase programme, with purchases up to NZ$100 billion ($73.9 billion) by June 2022.

However, the central

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: