UPDATE: In a surprise move by the RBNZ the Official Cash Rate was reduced by 50bp to 7.50%
As the highest Interest Rate in the developed world, all eyes will turn to New Zealand on September 10th when the RBNZ will announce if there are any changes to its Monetary Policy. Currently the rate is 8.00%.
The FXEconostats Graph of the New Zealand Official Cash Rate shows that the Central Bank increased the rate on March 8th, 2007 to 7.50% and continued to hike it, until it reached a 8.25% high on July 26th, 2007. The Cash Rate remained at that level for a year, when it was cut by 25bp to 8.00%.
For more New Zeland Economic data, and other major economies please visit FXEconostats