The Official Cash Rate has been cut to 4.75%. 

The Reserve Bank's lowered it by 50-basis points from 5.25% in a move predicted by economists.  

The bank says inflation's within its 1-3% target range and is converging on the 2% midpoint. 

It says economic activity is subdued, with weak business investment and consumer spending. 

Herald business editor at large Liam Dann told Matt Heath and Tyler Adams it's good news for borrowers.  

He says it's money in the pocket for mortgage holders and for businesses struggling with high debt. 

Banks have already begun cutting their home loan and lending rates. 

LISTEN ABOVE 

The Official Cash Rate has been cut to 4.75%.&nbsp;
The Reserve Bank's lowered it by 50-basis points from 5.25% in a move predicted by economists. &nbsp;
The bank says inflation's within its 1-3% target range and is converging on the 2% midpoint.&nbsp;
It says economic activity is subdued, with weak business investment and consumer spending.&nbsp;
Herald business editor at large Liam Dann told Matt Heath and Tyler Adams it's good news for borrowers. &nbsp;
He says it's money in the pocket for mortgage holders and for businesses struggling with high debt.&nbsp;
Banks have already begun cutting their home loan and lending rates.&nbsp;
LISTEN ABOVE&nbsp;

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We’re bringing you an exciting new era on Newstalk ZB with Matt Heath &amp; Tyler Adams Afternoons.
With years of media and broadcast experience between them, this team brings a fresh and unique perspective to your weekdays.
Matt and Tyler dive into the latest news stories, share their opinions, and engage with their listeners weekdays on Newstalk ZB.

Matt Heath and Tyler Adams dive into the latest news stories, share their opinions, and engage with their listeners weekdays on Newstalk ZB.

Matt Heath & Tyler Adams Afternoons

Liam Dann: NZ Herald Business Editor on the OCR being cut by 50 basis points to 4.75%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b6d5318b-e408-466b-a8ed-b204001e5df3/transcript

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