The Reserve Bank is widely expected to cut the Official Cash Rate today from 4.75% to 4.25%.

It was cut by the same margin in October.  

ANZ's already cutting most of its home loan rates ahead of this afternoon's decision.   

BNZ Chief Economist Mike Jones told Ryan Bridge he can see some of the logic for a 75 basis point move.  

But he says those big moves tend to be reserved for crisis situations, and we're not in one of those. 

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