Don't bank on further cuts to the Official Cash Rate. 

The Reserve Bank's dropped the OCR 25 basis points to 3.25%, and is now forecasting it could reach a low of 2.9% by the end of the year. 

But Governor Christian Hawkesby says further cuts aren't guaranteed. 

He told Mike Hosking they're taking things one step at a time, as they wait to see how global developments affect the economy and inflation. 

Hawkesby says the OCR is now close to "neutral" and the Reserve Bank's next move won't be pre-programmed, it will depend on how things unfold. 

LISTEN ABOVE 

Don't bank on further cuts to the Official Cash Rate.&nbsp;
The Reserve Bank's dropped the OCR 25 basis points to 3.25%, and is now forecasting it could reach a low of 2.9% by the end of the year.&nbsp;
But Governor Christian Hawkesby says further cuts aren't guaranteed.&nbsp;
He told Mike Hosking they're taking things one step at a time, as they wait to see how global developments affect the economy and inflation.&nbsp;
Hawkesby says the OCR is now close to "neutral" and the Reserve Bank's next move won't be pre-programmed, it will depend on how things unfold.&nbsp;
LISTEN ABOVE&nbsp;

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, 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

Christian Hawkesby: Acting Reserve Bank Governor on the OCR cut, future developments

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/57b67884-4b32-4256-a6ca-b2eb014ebfe4/transcript