18/02/2026
📢 Official Update: OCR Held at 2.25%
The Committee has agreed to keep the Official Cash Rate (OCR) steady at 2.25%.
They highlighted that while the economic recovery is underway, it’s still in its early stages. A premature increase in interest rates could slow this recovery and cause inflation to fall below target. At the same time, keeping rates too low for too long could push inflation above the target midpoint.
To support sustained economic growth, the Committee agreed that monetary policy will remain accommodative for some time. They also noted risks such as cautious household spending, tighter financial conditions, and global uncertainties that could affect the domestic economy.
✅ Key points:
Significant excess capacity, modest wage growth, and stable core inflation support inflation returning to target.
Inflation expectations remain somewhat elevated, so careful monitoring continues.
If economic activity picks up as expected, gradual normalisation of policy may begin without disrupting recovery.
The Committee will continue to assess new data and ensure monetary policy supports a steady return to target inflation.