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."

LISTEN ABOVE

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."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Jarrod Kerr: Kiwibank Chief Economist on the Reserve Bank cutting the OCR by 50 basis points

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/650dd908-f8cf-4594-a0d4-b3700053e526/transcript

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