02/09/2026
🚨 OCR UPDATE: The Reserve Bank has increased the Official Cash Rate by 25 basis points, taking it to 2.75%.
So, what does this mean for homeowners and borrowers?
The OCR influences the interest rates banks charge, meaning this increase could put upward pressure on mortgage rates.
The Reserve Bank’s decision comes as inflation sits at 4.1%, above its 1–3% target range. It expects inflation to return to the target band by mid-2027, with the 2% midpoint reached later next year.
The important part? The OCR path isn’t set in stone. Future decisions will depend on how inflation, employment and the wider economy evolve.
If you’re coming off a fixed rate, considering refinancing, or simply wondering what this means for your mortgage, now is a good time to understand your options.
đź’¬ Talk to a Vega adviser about what the latest OCR move could mean for you.
Source: Reserve Bank of New Zealand, 2 September 2026.