The Reserve Bank Governor is leaving the job tomorrow, with no major regrets about the pace of OCR cuts

The cash rate's dropped 25 basis points to 2.25 percent.

Forward-projections suggest this will be the end of the current cycle of OCR cuts, with inflation expected to ease, and the economy expected to recover, in the new year.

Governor Christian Hawkesby says they've been responding to circumstances.

He says they've been dealing with a stall in economic recovery, while focusing on their mandate of controlling inflation.