RBNZ Interest Rates; Raise or no Raise

Cash rate (%pa)
Bank bill yields (%pa)Secondary market government bond yields (%pa)Swap rate spread close (bps)
DateOfficial Cash Rate (OCR)Overnight interbank cash rate30 days60 days90 days1 year12 year15 year10 year2-10s2
09 May 20235.255.505.565.625.254.774.154.20-83
10 May 20235.255.515.575.625.254.704.104.17-81
11 May 20235.255.505.565.615.234.634.054.12-83
12 May 20235.255.515.565.605.234.604.014.08-76
15 May 20235.255.515.555.585.194.543.964.05-78
16 May 20235.255.555.595.645.254.634.054.12-82
17 May 20235.255.545.595.655.254.674.084.16-89
18 May 20235.255.575.635.705.344.784.194.26-96
19 May 20235.255.635.725.795.525.044.414.41-105
22 May 20235.255.685.775.825.575.084.434.42

[1] Where there is no suitable benchmark bond, none is reported. See series description for details.[2] The spread between the 2 and 10 year swap rate is presented in basis points to better align with market conventions.

See the 30, 60 and 90 day rates move 5 points. The 30 and 60 day rates qualify for raise. The 1 year rate qualifies.

Brian Twomey


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