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RBNZ Interest Rate Decision, November 2025

The Reserve Bank of New Zealand lowered the Official Cash Rate 25 bp to 2.25% on November 26, 2025, as expected.

Decision2.25%▼ cut −25 bp
Against expectedAs expectedexpected 2.25%
Previous2.50%Official Cash Rate
NZD/USD one hour later +41 pips from the last price before
The result

What the RBNZ decided in November 2025

The move −25 bp Cut 25 bp to 2.25%, from 2.50%.
Against expected No surprise Economists expected: cut 25 bp to 2.25%. The decision was as expected.
Timing 2:00 PM Wellington Wednesday, November 26, 2025; 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 Nov 26, 2025 The hour before the 14:00 announcement ranged 8.3 pips. The first spike went above it by 50 pips, and did not close back inside within the hour. 0.562 0.564 0.566 0.568 13:00 13:30 14:00 14:30 15:00 15:30 THE HOUR BEFORE RBNZ 14:00 PRESS CONF. Spike 0.56816 · 50 pips past the hour's high
  1. The hour beforeNZD/USD ranged 8.3 pips, from 0.56230 to 0.56313, and was at 0.56265 at the announcement.
  2. The first spike After 0 minutes price went through the hour's high and ran 50 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: +34 pips at 15 minutes, +41 pips at one hour, +63 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, October 2025Cut 50 bp to 2.50% Next decision →RBNZ, February 2026Wed, Feb 18, 2:00 PM Wellington
Questions

RBNZ November 2025 decision: questions

What time was the RBNZ interest rate decision on Nov 26, 2025?

It was announced at 2:00 PM Wellington (8:00 PM EST New York, 1:00 AM London London), with the press conference at 3:00 PM Wellington.

What did the RBNZ decide in November 2025?

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

How did NZD/USD react to the RBNZ decision in November 2025?

On one-minute candles: the hour before ranged 8.3 pips; the first spike went above it by 50 pips; it did not close back inside within the hour; after one hour NZD/USD was +41 pips from its pre-announcement price.

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