Economy · ✓ 3 outlets
Reserve Bank's Official Cash Rate sits at 2.75% ahead of the 28 October review
The Reserve Bank of New Zealand raised the Official Cash Rate to 2.75% on 2 September after a July increase, according to OrbitRemit and Trading Economics, with the next review set for 28 October (financecalendar). Forecasters differ: one bank expects hikes in October and December, while another expects a pause. DailyDrop did not see the bank's own statement.
The OCR sets mortgage and savings rates.
If your mortgage is due to refix, expect higher rates than a year ago.
The kiwi near 56 cents is adding to price pressure, so the 28 October decision is worth watching.
DailyDrop New Zealand edition No. 1 · Morning · MON., OCT. 5, 2026