A bold move from the Reserve Bank as it has decided to cut the Official Cash Rate (OCR) by 50-basis points, from 5.25% to 4.75%.

It's the second cut in a row, after the OCR was lowered in August - which was the first drop since May 2023. 

All of the larger banks predicted the rise, but a 25-point drop was thought to be just as likely. 

Co-operative Bank Chief Executive Mark Wilshire joins Jack Tame to discuss how this will impact homeowners. 

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