Reserve Bank of New Zealand cuts rates by 50 basis points as easing cycle deepens

New Zealand’s central bank cut its Official Cash Rate by 50 basis points at its latest meeting, marking the third straight meeting where it delivered that exact same cut. This latest move brings the OCR to 3.25%, following a cut to 3.5% in April 2025. The RBNZ also signaled further easing in coming quarters.

By October 2025, the OCR had been reduced further to 2.5%. As of May 2026, the rate was held at 2.25%, shaped in part by rising energy prices adding external pressure to the inflation picture.

What the RBNZ is actually doing and why

The bank’s stated goal is to guide inflation back toward its 2% target while simultaneously trying to revive economic activity.

What rate cuts mean for crypto and risk assets