Changes To Wholesale Interest Rates (B2) Release

The Reserve Bank will make changes to the following series in the Wholesale interest rates - B2 publication from Monday 25 August 2025:

• All underlying secondary market government bond daily yields and bond prices
• Secondary market government bond daily closing yields (1,2,5 and 10 year)
• Secondary market government bond monthly yields (1,2,5 and 10 year)
• Secondary market government bond monthly closing yields (1,2,5 and 10 year)
• Inflation Indexed bond monthly yields
• Inflation Indexed bond daily yields

We have implemented a new data source from the NZ Financial Markets Association for these series. Going forward, the above series will be closing (end of day) rates, rather than mid-day rates, and will be published with a one-day lag. Previously, indicative mid-rates for all underlying secondary market government bonds (including the 1, 2, 5, and 10-year benchmarks) and inflation indexed bonds were sourced daily at 11:10am. Both historical data and future publications will now be reported on a one-day lag, using the previous day’s closing rates.

As a result of this move to closing rates, the following xlsx files are redundant and will be discontinued:

• Wholesale Interest Rates – B2 Daily (2018-current)
• Wholesale Interest Rates – B2 Daily (1985-2017)
• Wholesale Interest Rates – B2 Daily close (2018-current)
• Wholesale Interest Rates – B2 Daily close (2010-2017)
• Wholesale Interest Rates – B2 Monthly (1985-current)
• Wholesale Interest Rates – B2 Monthly close (2010-current)

These have been replaced with new xlsx files:

• Wholesale Interest Rates – B2 Daily close (2018-current)
• Wholesale Interest Rates – B2 Monthly close (2018-current)

Should you have any questions or require further information, please contact us at statsunit@rbnz.govt.nz

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