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Official Cash Rate (OCR) decisions and current rate
The Reserve Bank uses monetary policy to maintain price stability as defined in the Policy Targets Agreement (PTA). The current PTA requires the Bank to keep inflation between 1 and 3 percent on average over the medium term, with a focus on keeping future average inflation near the 2 percent target midpoint. The Bank implements monetary policy by setting the Official Cash Rate (OCR), which is reviewed eight times a year.
Date
(Links are to news releases)
Change in OCR
OCR rate
10 December 2015
-0.25
2.50
29 October 2015
No change
2.75
10 September 2015
-0.25
2.75 |
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