In fact it has remained unchanged since March 2011 when the OCR was dropped from 3% to 2.5% and it has stayed at this record low since.
Reserve Bank Governor Alan Bollard kept the rate the same in this mornings announcement saying "New Zealand's trading partner outlook remains poor, with several euro-area economies in recession."
All in all the statement today was quite short and sweet and in summary - "It remains appropriate for the OCR to be held at 2.5%".
To view the history of the OCR and to read the full statement - click here
So, if rates are not increasing any time soon why wait - if you need to refinance, top up, complete renovations or are planning on moving house or buying an investment property - we're here to help negotiate you the best possible mortgage.
Check out our team here
We're here for a coffee and chat anytime you need us!
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