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RBNZ Interest Rate Decision, July 2026

The Reserve Bank of New Zealand raised the Official Cash Rate 25 bp to 2.50% on July 8, 2026, as expected.

Decision2.50%▲ hike +25 bp
Against expectedAs expectedexpected 2.50%
Previous2.25%Official Cash Rate
NZD/USD one hour later +14 pips from the last price before
The result

What the RBNZ decided in July 2026

The move +25 bp Raised 25 bp to 2.50%, from 2.25%.
Against expected No surprise Economists expected: hike 25 bp to 2.50%. The decision was as expected.
Timing 2:00 PM Wellington Wednesday, July 8, 2026; press conference at 3:00 PM Wellington.
What price did

NZD/USD after the RBNZ decision, minute by minute

One-minute candles, Wellington time. The box is the hour before the announcement. How we measure.

NZD/USD one-minute chart around the Reserve Bank of New Zealand decision of Jul 8, 2026 The hour before the 14:00 announcement ranged 7.3 pips. The first spike went above it by 16 pips, and did not close back inside within the hour. 0.5680 0.5685 0.5690 0.5695 0.5700 0.5705 13:00 13:30 14:00 14:30 15:00 15:30 THE HOUR BEFORE RBNZ 14:00 PRESS CONF. Spike 0.57046 · 16 pips past the hour's high
  1. The hour beforeNZD/USD ranged 7.3 pips, from 0.56817 to 0.56890, and was at 0.56858 at the announcement.
  2. The first spike After 0 minutes price went through the hour's high and ran 16 pips past it.
  3. The close back No five-minute candle closed back inside the range within the hour: the first move held.
  4. The other side Not measured: it needs a close back first.
  5. The moves From the last price before the announcement: +9.9 pips at 15 minutes, +14 pips at one hour, +30 pips at four hours.
For context

Across 13 measured RBNZ decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 4 (31%), and in 2 of those price then took the other side within four hours. In the other 9 the first move held. Median move in the first 15 minutes: 30 pips.

This decision is one where the first move held. Counts include the decisions where it did not close back. All RBNZ dates · RBNZ overview.

← Previous decisionRBNZ, May 2026Held at 2.25% Next decision →RBNZ, September 2026Wed, Sep 2, 2:00 PM Wellington
Questions

RBNZ July 2026 decision: questions

What time was the RBNZ interest rate decision on Jul 8, 2026?

It was announced at 2:00 PM Wellington (10:00 PM EDT New York, 3:00 AM London London), with the press conference at 3:00 PM Wellington.

What did the RBNZ decide in July 2026?

Raised 25 bp to 2.50% (previous 2.25%). Economists expected: hike 25 bp to 2.50%, so the decision was as expected.

How did NZD/USD react to the RBNZ decision in July 2026?

On one-minute candles: the hour before ranged 7.3 pips; the first spike went above it by 16 pips; it did not close back inside within the hour; after one hour NZD/USD was +14 pips from its pre-announcement price.

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