Today's 50 basis point OCR cut could go some way to getting our economy growing again.

The Reserve Bank's slashed the cash rate to 2.5 percent.

ANZ has lowered its floating and flexible rates, on top of all major banks already lowering fixed term offerings.

Kiwibank chief economist, Jarrod Kerr, says he's been calling for a 2.5 percent cash rate for two years.

"We knew it needed to go below neutral, which is three, and we needed to get some stimulus into the economy to really ignite the recovery."

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