A cut in the Official Cash Rate could reignite the housing market
A cut in the Official Cash Rate could reignite the housing market
8 May 2019
The Reserve Bank has dropped the OCR to 1.5 percent - its lowest point ever.
The Kiwi dollar reacted by slumping to a six month low.
The bank says slowing global activity and softening domestic growth are key factors driving the change.
Governor Adrian Orr says the cut will inevitably result in activity in the housing market.
He says lower interest rates will have a flow on effect for spending.
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