Reserve Bank of New Zealand Wholesale Interest Rates

Key Features and Coverage on RIMES

For this data source, RIMES hosts 26 reference rates, including:

• Interest rates – A charge, quoted as a quarterly, semi-annual, or annual rate, paid by the borrower to the lender over a period of time. It is compensation to the lender for the sacrifice of the immediate use of money and for the inflationary erosion of its buying power over the life of a loan.
• Official Cash Rate (OCR) – The Official Cash Rate (OCR) is an interest rate set by the Reserve Bank to implement monetary policy, so as to maintain price stability.
• Overnight interbank cash rate – The weighted average interest rate of secured and unsecured overnight cash transactions that the markets (price makers) quote each other for the purposes of lending and borrowing short-term (overnight) money, without the need for Reserve Bank facilities.
• Bank bills – These are mostly issued as Registered Certificates of Deposit (RCD) but can also be a Bill of Exchange issued or accepted by a bank. Bills of Exchange represent only a very small portion of total securities outstanding in this category.
• Interest rate swap – The fixed interest rate used in an agreement between two parties to exchange, or “swap”, for the reference number of years, a series of fixed interest rate payments for a series of variable (or floating) interest rate payments (or vice versa).

Some of the data items available include:

• Description
• Database Domain Code
• Last Price Date
• Series Value
• Series Value Close
• Database Source
• Database Symbol, etc.