Interest rate spread (lending rate minus deposit rate, %) in New Zealand
New Zealand: Interest rate spread (lending rate minus deposit rate, %) was -3.9% in 2025. ◆ Volatile
Interest rate spread in New Zealand, 1998–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus deposit rate, %.
Analysis
In 2025, interest rate spread in New Zealand stood at -3.9%.
That represents a change of up 31.2% on the previous year and down 294.2% over ten years.
Over the whole period, interest rate spread in New Zealand peaked at 2.6% in 2009 and was at its lowest, -5.7%, in 2024.
New Zealand ranks 140th of 141 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Interest rate spread (lending rate minus deposit rate, %) in New Zealand, year by year
| Year | lending rate minus deposit rate, % | Change |
|---|---|---|
| 1998 | 2.2% | — |
| 1999 | 2.5% | +12.6% |
| 2000 | 1.5% | -41.7% |
| 2001 | 2.2% | +54.4% |
| 2002 | 1.8% | -17.9% |
| 2003 | 1.9% | +3.0% |
| 2004 | 1.3% | -29.9% |
| 2005 | 1.1% | -18.9% |
| 2006 | 1.3% | +18.3% |
| 2007 | 0.8% | -35.1% |
| 2008 | 1.4% | +67.5% |
| 2009 | 2.6% | +88.7% |
| 2010 | 1.7% | -36.1% |
| 2011 | 1.8% | +9.8% |
| 2012 | 1.7% | -6.6% |
| 2013 | 1.7% | -0.6% |
| 2014 | 1.8% | +5.1% |
| 2015 | 2.0% | +13.3% |
| 2016 | 1.8% | -11.9% |
| 2017 | 1.5% | -18.2% |
| 2018 | -3.3% | -322.9% |
| 2024 | -5.7% | +75.7% |
| 2025 | -3.9% | -31.2% |
New Zealand compared with similar countries
- New Zealand's -3.9% is below the median for high income countries, which is 3.1%. (38 countries reporting)
- New Zealand's -3.9% is below the median for East Asia & Pacific, which is 5.0%. (25 countries reporting)
Biggest year-on-year movements
Years where Interest rate spread (lending rate minus deposit rate, %) in New Zealand changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2018 | -322.9% | 1.5% | -3.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.4% | 2.2% | 2.5% | 2 |
| 2000s | 1.6% | 0.8% | 2.6% | 10 |
| 2010s | 1.2% | -3.3% | 2.0% | 9 |
| 2020s | -4.8% | -5.7% | -3.9% | 2 |
Countries ranked near New Zealand
More financial sector data for New Zealand
- Reserve position in the IMF, US dollar, annual growth rate 6.51 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 81.16 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 1.42 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0012 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 59.26 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 6.51 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 81.16 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 1.42 % change on previous year (2025)
Frequently asked questions
- What is interest rate spread in New Zealand?
- Interest rate spread in New Zealand was -3.9% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest interest rate spread recorded in New Zealand?
- The highest recorded value was 2.6% in 2009.
- What is the lowest interest rate spread recorded in New Zealand?
- The lowest recorded value was -5.7% in 2024.
- How does New Zealand rank for interest rate spread?
- New Zealand ranks 140th out of 141 countries with data for 2025.
- Is interest rate spread rising or falling in New Zealand?
- Over the last ten years it is down 294.2%. The long-run trend across the full record is volatile.
- Where does this New Zealand data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Interest rate spread (lending rate minus deposit rate, %). Statizoid updates them automatically from the source API.
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About this data
Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.