The biggest upshot of the latest OCR cut is likely to be the boost to consumer confidence. 

The Reserve Bank's slashed the cash rate by 50-basis-points to 2.5%. 

Major banks are responding by lowering floating and flexible rates after already lowering their fixed-term rates in recent days. 

ABC Business Sales Chief Executive Chris Small told Mike Hosking businesses will benefit more indirectly from increased consumer spending, than directly from falling interest rates. 

He says interest costs are only a small portion of a person's actual business costs, and businesses will always prefer for revenues to rise than for costs to fall. 

LISTEN ABOVE 

The biggest upshot of the latest OCR cut is likely to be the boost to consumer confidence.&nbsp;
The Reserve Bank's slashed the cash rate by 50-basis-points to 2.5%.&nbsp;
Major banks are responding by lowering floating and flexible rates after already lowering their fixed-term rates in recent days.&nbsp;
ABC Business Sales Chief Executive Chris Small told Mike Hosking businesses will benefit more indirectly from increased consumer spending, than directly from falling interest rates.&nbsp;
He says interest costs are only a small portion of a person's actual business costs, and businesses will always prefer for revenues to rise than for costs to fall.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Chris Small: ABC Business Sales CEO on the impac of the OCR being cut to 2.5%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/35577604-e3d2-47ac-b378-b37001384a74/transcript

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