Savers keep waiting as OCR hike unlikely to push fixed interest rates much higher

PremiumJenée TibshraenyWellington Business Editor·NZ Herald·2 Sep, 2026 11:10 PM4 mins to read‌Business editor at large Liam Dann and Investigative journalist Michael Morrah discuss the potential options. Video \ Jason DordayThe Official Cash Rate has gone up, but banks aren’t expected to rush out and lift their fixed lending and savings rates.Floating rates are a different story. They tend to move with the Official Cash Rate (OCR).Why aren’t fixed rates expected to jump?

The Reserve Bank’s Monetary Policy

Savers keep waiting as OCR hike unlikely to push fixed interest rates much higher

Related reading

The OCR has gone up - here's what I think about when fixing my mortgage

Reserve Bank defends OCR hike amid warnings it could stall recovery

Another bank raises interest rates following OCR hike

Higher mortgage rates give Reserve Bank 'bit of breathing space'

Banks increase rates after OCR rise - so what's ahead?

Why home loan rates aren't 'anywhere near high enough'