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. 

LISTEN ABOVE

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.&nbsp;
All of the larger banks predicted the rise, but a 25-point drop was thought to be just as likely.&nbsp;
Co-operative Bank Chief Executive Mark Wilshire joins Jack Tame to discuss how this will impact homeowners.&nbsp;
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

Mark Wilkshire: Co-operative Bank CEO on OCR cut

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/14c5c3ca-cf52-4b71-9978-b204004ab641/transcript

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