Official Cash Rate

When you're managing money abroad, the Official Cash Rate (OCR) is the interest rate that shapes everything from your mortgage payments to savings account returns. Set by a country's central bank, this rate influences how much banks charge to lend and how much they pay on deposits—making it crucial for anyone planning finances in a new country. Understanding how the OCR moves helps expats anticipate changes in borrowing costs, investment returns, and the overall cost of living.