RBNZ cuts Official Cash Rate to 2.25%, leaves door open for more

The OCR decision was the last for 2025 and the last under Governor Christian Hawkesby. (Image: NZME)

Wed, 26 Nov 2025

The Reserve Bank of New Zealand cut the Official Cash Rate by 25 basis points to 2.25% and left the door open for further easing.While the goal is consensus, the final decision came down to a vote.The decision was either to cut or hold and the committee voted by 5 to 1 to cut. “Leaving the OCR unchanged at this meeting would provide the optionality to lower the OCR in the future if required,” according to the record of meeting.The central bank’s forward-looking track does show the OCR falling further in early 2026 before...

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