The Reserve Bank's cut the OCR to a record low - in an attempt to give the economy a shot in the arm
The Reserve Bank's cut the OCR to a record low - in an attempt to give the economy a shot in the arm
8 May 2019
It's lowered the rate to 1.5 percent this afternoon, citing slowing economic growth, trade concerns and softening economic growth.
Managing director of Bagrie Economics, Cameron Bagrie, says a lot of key indicators are pointing the wrong way.
He says the lowering of the rate might be good news for borrowers, but it's driven down by bad economic reasons.
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