New Zealand - Money Market Rate





New Zealand: Money Market Rate

Mnemonic IRMM.INZL
Unit % p.a., NSA
Adjustments Not Seasonally Adjusted
Business Daily
Data 03 Jan 2019 1.69
02 Jan 2019

Series Information

Source Reserve Bank of New Zealand
Release Interest Rates
Frequency Business Daily
Start Date 1/4/1985
End Date 1/3/2019

New Zealand: Markets

Reference Last Previous Units Frequency
Lending Rate 29 Mar 2024 5.5 5.5 Percent, NSA Daily
Average Long-term Government Bond 28 Mar 2024 4.59 4.63 % p.a., NSA Business Daily
Stock Market Index 28 Mar 2024 12,105 12,010 Index, NSA Daily
Treasury Bills (over 31 days) 28 Mar 2024 5.59 5.59 % p.a., NSA Business Daily
Money Market Rate 03 Jan 2019 1.69 % p.a., NSA Business Daily
Business Lending Rate Jan 2017 4.67 4.6 % p.a., NSA Monthly

Release Information

For New Zealand, select interest rates and yields: central bank policy, bank bills, swap spreads, yields of benchmark government bonds in secondary-market trading.

  • Measurement: Percent per annum (% p.a.)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequencies:
    • Daily
    • Monthly
  • Start dates:
    • Daily: As early as 4 January 1985
    • Monthly: As early as 1975m1

The amount of money quoted as a quarterly, semi-annual, or annual rate, paid by the borrower to the lender over a period of time. It is compensation to the lender for the immediate use of money to the borrower and for the inflationary erosion of its buying power over the life of a loan. Interest rates are reflective to the supply and demand in New Zealand markets.

Financial institutions trading financial instruments will normally quote both bid and offer rates for those financial instruments. The mid-rate is the rate in the middle of this range

Glossary

Bank bills
These are mostly issued as Registered Certificates of Deposit (RCD) but can also be a Bill of Exchange issued or accepted by a bank. Bills of Exchange represent only a very small portion of total securities outstanding in this category. Bank bill yields are 11.10am market mid-rates.
1-year bond
The one-year benchmark for New Zealand Government bonds with a fixed interest coupon paid semi-annually in arrears. The bonds are redeemable at par on maturity. 
2-year bond
The two-year benchmark for New Zealand Government bonds with a fixed interest coupon paid semi-annually in arrears. The bonds are redeemable at par on maturity.
5-year bond
The five-year benchmark for New Zealand Government bonds with a fixed interest coupon paid semi-annually in arrears. The bonds are redeemable at par on maturity.
10-year bond
The ten-year benchmark for New Zealand Government bonds with a fixed interest coupon paid semi-annually in arrears. The bonds are redeemable at par on maturity.
Interest rates
A charge, quoted as a quarterly, semi-annual, or annual rate, paid by the borrower to the lender over a period of time. It is compensation to the lender for the sacrifice of the immediate use of money and for the inflationary erosion of its buying power over the life of a loan. Interest rates are sensitive/responsive to the supply and demand factors of credit and to inflationary expectations.
New Zealand markets
Made up of financial institutions that will trade, both New Zealand cash, and financial instruments. They will quote both bid and offer rates.
Official Cash Rate (OCR)
The Official Cash Rate (OCR) is an interest rate set by the Reserve Bank to implement monetary policy, so as to maintain price stability. 
Overnight interbank cash rate
The Overnight Interbank Cash Rate is the average interest rate of secured/unsecured overnight cash transactions that the market (price makers) quote each other for the purposes of lending and borrowing short-term (overnight) money, without the need for Reserve Bank facilities. 

There are not normally revisions. However if revisions are necessary, they would be in bold font when reported by the source.