Reserve Bank cuts OCR to 5.25%

Summarised by Centrist

The Reserve Bank of New Zealand has reduced the official cash rate (OCR) by 25 basis points to 5.25%, marking the first rate cut in over four years. The decision follows signs of cooling inflation and economic slowdown. The central bank anticipates further cuts, with the OCR potentially dropping to 4.9% by year-end. Kiwibank has already lowered lending and deposit rates in response.

Read more over at RNZ