New Zealand Wholesale Swap Rates — Daily Reference Tables
Machine-readable static HTML tables updated automatically each New Zealand business morning from Reserve Bank of New Zealand (RBNZ) Table B2 (sourced via RBNZ, Reuters, and NZFMA; 1-business-day delayed end-of-day closing mid-rates). Latest RBNZ close: 2026-11-03 (Checked: 2026-11-04T11:12:27Z).
1. Latest Wholesale Swap & Bank Bill Closes (2026-11-03)
| Benchmark | RBNZ Series ID | Latest Close | 1D Move | 1W Move | 1M Move | 1Y Move |
|---|
| Official Cash Rate (OCR) | INM.DP1.N | 2.75% | +0 bps | +0 bps | +0 bps | +25 bps |
| 30-Day Bank Bill | INM.DB01.NZZV | 2.91% | -1 bps | -22 bps | -9 bps | +32 bps |
| 60-Day Bank Bill | INM.DB02.NZZV | 3.03% | +0 bps | -21 bps | -8 bps | +53 bps |
| 90-Day Bank Bill (BKBM) | INM.DB03.NZZV | 3.14% | -1 bps | -21 bps | -9 bps | +62 bps |
| 1-Year Swap | INM.DS01.NZZC | 3.59% | -2 bps | -23 bps | -11 bps | +116 bps |
| 2-Year Swap | INM.DS02.NZZC | 3.87% | -2 bps | -24 bps | -14 bps | +131 bps |
| 3-Year Swap | INM.DS03.NZZC | 4.00% | -2 bps | -23 bps | -18 bps | +126 bps |
| 4-Year Swap | INM.DS04.NZZC | 4.09% | -2 bps | -21 bps | -21 bps | +118 bps |
| 5-Year Swap | INM.DS05.NZZC | 4.17% | -2 bps | -20 bps | -23 bps | +110 bps |
| 7-Year Swap | INM.DS07.NZZC | 4.31% | -3 bps | -18 bps | -26 bps | +95 bps |
| 10-Year Swap | INM.DS10.NZZC | 4.49% | -3 bps | -16 bps | -28 bps | +81 bps |
| 15-Year Swap | INM.DS15.NZZC | 4.70% | -2 bps | -16 bps | -28 bps | +70 bps |
| 2Y–10Y Swap Spread | INM.DS61.NZZC | +62 bps | -1 bps | +8 bps | -14 bps | -50 bps |
2. Annual Wholesale Swap Summary (2011–Present)
| Year | Year-End OCR | Year-End 1Y Swap | Year-End 2Y Swap (Annual Range) | Year-End 5Y Swap (Annual Range) |
|---|
| 2026 | 2.75% | 3.59% | 3.87% (2.88%–4.13%) | 4.17% (3.48%–4.50%) |
| 2025 | 2.25% | 2.61% | 2.93% (2.44%–3.65%) | 3.56% (2.92%–3.88%) |
| 2024 | 4.25% | 3.57% | 3.37% (3.37%–5.27%) | 3.51% (3.47%–4.79%) |
| 2023 | 5.50% | 5.25% | 4.64% (4.62%–5.78%) | 4.08% (4.07%–5.38%) |
| 2022 | 4.25% | 5.48% | 5.37% (2.18%–5.41%) | 4.86% (2.59%–5.06%) |
| 2021 | 0.75% | 1.72% | 2.17% (0.27%–2.44%) | 2.55% (0.50%–2.81%) |
| 2020 | 0.25% | 0.26% | 0.28% (0.00%–1.23%) | 0.54% (0.08%–1.39%) |
| 2019 | 1.00% | 1.24% | 1.26% (0.82%–1.95%) | 1.44% (0.83%–2.20%) |
| 2018 | 1.75% | 1.97% | 1.96% (1.96%–2.33%) | 2.20% (2.20%–2.80%) |
| 2017 | 1.75% | 2.01% | 2.21% (2.13%–2.46%) | 2.68% (2.55%–3.08%) |
| 2016 | 1.75% | 2.18% | 2.45% (1.94%–2.83%) | 3.04% (2.06%–3.23%) |
| 2015 | 2.50% | 2.77% | 2.85% (2.68%–3.83%) | 3.28% (3.00%–3.94%) |
| 2014 | 3.50% | 3.74% | 3.80% (3.77%–4.26%) | 3.97% (3.96%–4.75%) |
| 2013 | 2.50% | 3.43% | 3.85% (2.74%–3.85%) | 4.73% (3.19%–4.73%) |
| 2012 | 2.50% | 2.60% | 2.67% (2.37%–3.14%) | 3.10% (2.91%–3.90%) |
| 2011 | 2.50% | 2.67% | 2.72% (2.63%–3.92%) | 3.27% (3.16%–4.72%) |
3. Recent 60 Trading Days — Daily Closing Mid-Rates
| Date | OCR | 90d Bill | 1Y Swap | 2Y Swap | 3Y Swap | 4Y Swap | 5Y Swap | 7Y Swap | 10Y Swap | 2Y–10Y Spread |
|---|
| 2026-11-03 | 2.75% | 3.14% | 3.59% | 3.87% | 4.00% | 4.09% | 4.17% | 4.31% | 4.49% | +62 bps |
| 2026-11-02 | 2.75% | 3.15% | 3.61% | 3.89% | 4.02% | 4.11% | 4.19% | 4.34% | 4.52% | +63 bps |
| 2026-10-30 | 2.75% | 3.16% | 3.61% | 3.89% | 4.02% | 4.11% | 4.19% | 4.33% | 4.51% | +62 bps |
| 2026-10-29 | 2.75% | 3.16% | 3.66% | 3.95% | 4.09% | 4.18% | 4.25% | 4.40% | 4.57% | +62 bps |
| 2026-10-28 | 2.75% | 3.37% | 3.68% | 4.00% | 4.14% | 4.23% | 4.31% | 4.46% | 4.63% | +63 bps |
| 2026-10-27 | 2.75% | 3.35% | 3.82% | 4.11% | 4.23% | 4.30% | 4.37% | 4.49% | 4.65% | +54 bps |
| 2026-10-23 | 2.75% | 3.31% | 3.77% | 4.05% | 4.17% | 4.25% | 4.32% | 4.45% | 4.61% | +56 bps |
| 2026-10-22 | 2.75% | 3.32% | 3.78% | 4.06% | 4.19% | 4.28% | 4.36% | 4.50% | 4.67% | +61 bps |
| 2026-10-21 | 2.75% | 3.32% | 3.79% | 4.08% | 4.22% | 4.32% | 4.40% | 4.55% | 4.72% | +64 bps |
| 2026-10-20 | 2.75% | 3.31% | 3.79% | 4.09% | 4.23% | 4.33% | 4.42% | 4.56% | 4.74% | +65 bps |
| 2026-10-19 | 2.75% | 3.30% | 3.78% | 4.08% | 4.22% | 4.31% | 4.39% | 4.53% | 4.70% | +62 bps |
| 2026-10-16 | 2.75% | 3.26% | 3.77% | 4.06% | 4.20% | 4.29% | 4.37% | 4.51% | 4.69% | +63 bps |
| 2026-10-15 | 2.75% | 3.23% | 3.70% | 3.98% | 4.12% | 4.22% | 4.31% | 4.46% | 4.64% | +66 bps |
| 2026-10-14 | 2.75% | 3.23% | 3.71% | 4.00% | 4.14% | 4.25% | 4.34% | 4.50% | 4.68% | +68 bps |
| 2026-10-13 | 2.75% | 3.23% | 3.70% | 3.98% | 4.13% | 4.24% | 4.33% | 4.49% | 4.67% | +69 bps |
| 2026-10-12 | 2.75% | 3.22% | 3.70% | 4.00% | 4.15% | 4.27% | 4.36% | 4.52% | 4.71% | +71 bps |
| 2026-10-09 | 2.75% | 3.22% | 3.70% | 4.01% | 4.18% | 4.29% | 4.39% | 4.56% | 4.75% | +74 bps |
| 2026-10-08 | 2.75% | 3.22% | 3.70% | 4.03% | 4.20% | 4.32% | 4.43% | 4.60% | 4.81% | +78 bps |
| 2026-10-07 | 2.75% | 3.23% | 3.71% | 4.04% | 4.21% | 4.34% | 4.44% | 4.61% | 4.81% | +77 bps |
| 2026-10-06 | 2.75% | 3.23% | 3.71% | 4.05% | 4.22% | 4.34% | 4.45% | 4.62% | 4.81% | +76 bps |
| 2026-10-05 | 2.75% | 3.22% | 3.69% | 4.00% | 4.17% | 4.29% | 4.39% | 4.56% | 4.76% | +76 bps |
| 2026-10-02 | 2.75% | 3.23% | 3.70% | 4.01% | 4.18% | 4.30% | 4.40% | 4.57% | 4.77% | +76 bps |
| 2026-10-01 | 2.75% | 3.22% | 3.74% | 4.08% | 4.25% | 4.37% | 4.47% | 4.63% | 4.82% | +74 bps |
| 2026-09-30 | 2.75% | 3.23% | 3.73% | 4.05% | 4.21% | 4.33% | 4.42% | 4.57% | 4.75% | +70 bps |
| 2026-09-29 | 2.75% | 3.24% | 3.78% | 4.13% | 4.30% | 4.41% | 4.50% | 4.64% | 4.82% | +69 bps |
| 2026-09-28 | 2.75% | 3.24% | 3.78% | 4.13% | 4.29% | 4.40% | 4.49% | 4.64% | 4.81% | +68 bps |
| 2026-09-25 | 2.75% | 3.23% | 3.76% | 4.11% | 4.27% | 4.38% | 4.46% | 4.61% | 4.79% | +68 bps |
| 2026-09-24 | 2.75% | 3.21% | 3.75% | 4.10% | 4.26% | 4.36% | 4.44% | 4.57% | 4.74% | +64 bps |
| 2026-09-23 | 2.75% | 3.19% | 3.68% | 3.99% | 4.13% | 4.23% | 4.31% | 4.45% | 4.61% | +62 bps |
| 2026-09-22 | 2.75% | 3.17% | 3.70% | 4.04% | 4.18% | 4.28% | 4.35% | 4.49% | 4.65% | +61 bps |
| 2026-09-21 | 2.75% | 3.17% | 3.67% | 3.99% | 4.15% | 4.25% | 4.33% | 4.48% | 4.65% | +66 bps |
| 2026-09-18 | 2.75% | 3.16% | 3.65% | 3.97% | 4.13% | 4.24% | 4.32% | 4.47% | 4.64% | +67 bps |
| 2026-09-17 | 2.75% | 3.15% | 3.67% | 4.02% | 4.19% | 4.30% | 4.39% | 4.53% | 4.70% | +68 bps |
| 2026-09-16 | 2.75% | 3.15% | 3.65% | 4.00% | 4.17% | 4.29% | 4.39% | 4.54% | 4.71% | +71 bps |
| 2026-09-15 | 2.75% | 3.14% | 3.66% | 4.04% | 4.22% | 4.34% | 4.43% | 4.58% | 4.76% | +72 bps |
| 2026-09-14 | 2.75% | 3.13% | 3.65% | 4.02% | 4.19% | 4.31% | 4.40% | 4.55% | 4.72% | +70 bps |
| 2026-09-11 | 2.75% | 3.09% | 3.66% | 4.05% | 4.21% | 4.33% | 4.42% | 4.56% | 4.73% | +68 bps |
| 2026-09-10 | 2.75% | 3.06% | 3.49% | 3.81% | 3.96% | 4.08% | 4.18% | 4.36% | 4.56% | +75 bps |
| 2026-09-09 | 2.75% | 3.05% | 3.44% | 3.72% | 3.87% | 3.98% | 4.09% | 4.27% | 4.48% | +76 bps |
| 2026-09-08 | 2.75% | 3.06% | 3.43% | 3.70% | 3.85% | 3.96% | 4.06% | 4.24% | 4.46% | +76 bps |
| 2026-09-07 | 2.75% | 3.06% | 3.45% | 3.73% | 3.88% | 3.99% | 4.09% | 4.27% | 4.48% | +75 bps |
| 2026-09-04 | 2.75% | 3.06% | 3.45% | 3.72% | 3.87% | 3.99% | 4.10% | 4.28% | 4.49% | +77 bps |
| 2026-09-03 | 2.75% | 3.06% | 3.44% | 3.70% | 3.85% | 3.98% | 4.08% | 4.26% | 4.47% | +77 bps |
| 2026-09-02 | 2.50% | 3.08% | 3.42% | 3.69% | 3.84% | 3.96% | 4.07% | 4.26% | 4.48% | +79 bps |
| 2026-09-01 | 2.50% | 3.07% | 3.48% | 3.75% | 3.90% | 4.01% | 4.11% | 4.29% | 4.50% | +75 bps |
| 2026-08-31 | 2.50% | 3.06% | 3.46% | 3.72% | 3.85% | 3.96% | 4.06% | 4.23% | 4.44% | +72 bps |
| 2026-08-28 | 2.50% | 3.05% | 3.44% | 3.70% | 3.84% | 3.95% | 4.05% | 4.23% | 4.45% | +75 bps |
| 2026-08-27 | 2.50% | 3.03% | 3.42% | 3.68% | 3.82% | 3.94% | 4.04% | 4.22% | 4.43% | +75 bps |
| 2026-08-26 | 2.50% | 3.01% | 3.39% | 3.63% | 3.77% | 3.88% | 3.98% | 4.16% | 4.38% | +75 bps |
| 2026-08-25 | 2.50% | 3.01% | 3.39% | 3.66% | 3.80% | 3.92% | 4.02% | 4.20% | 4.42% | +76 bps |
| 2026-08-24 | 2.50% | 3.01% | 3.39% | 3.64% | 3.79% | 3.91% | 4.01% | 4.20% | 4.42% | +78 bps |
| 2026-08-21 | 2.50% | 3.00% | 3.40% | 3.66% | 3.81% | 3.93% | 4.03% | 4.22% | 4.44% | +78 bps |
| 2026-08-20 | 2.50% | 2.99% | 3.38% | 3.63% | 3.77% | 3.88% | 3.98% | 4.16% | 4.38% | +75 bps |
| 2026-08-19 | 2.50% | 2.99% | 3.36% | 3.61% | 3.76% | 3.88% | 3.99% | 4.18% | 4.41% | +80 bps |
| 2026-08-18 | 2.50% | 2.98% | 3.36% | 3.64% | 3.79% | 3.91% | 4.02% | 4.21% | 4.44% | +80 bps |
| 2026-08-17 | 2.50% | 2.97% | 3.36% | 3.63% | 3.77% | 3.89% | 4.00% | 4.19% | 4.41% | +78 bps |
| 2026-08-14 | 2.50% | 2.95% | 3.35% | 3.61% | 3.75% | 3.87% | 3.97% | 4.16% | 4.37% | +76 bps |
| 2026-08-13 | 2.50% | 2.96% | 3.35% | 3.59% | 3.73% | 3.84% | 3.94% | 4.12% | 4.33% | +74 bps |
| 2026-08-12 | 2.50% | 2.95% | 3.38% | 3.65% | 3.79% | 3.90% | 4.00% | 4.18% | 4.39% | +74 bps |
| 2026-08-11 | 2.50% | 2.95% | 3.38% | 3.66% | 3.80% | 3.91% | 4.01% | 4.18% | 4.39% | +73 bps |