Major banks drop some home loan rates after OCR cut

Last updated 4:28pm

SHARE

Kiwibank’s chief economist Jarrod Kerr speaks to Breakfast about what he thinks the central bank will announce this afternoon. (Source: Breakfast)

Kiwibank’s chief economist Jarrod Kerr speaks to Breakfast about what he thinks the central bank will announce this afternoon. (Source: Breakfast)

The Reserve Bank has announced a new official cash rate (OCR), choosing a more aggressive rate-cutting option than some had forecasted.

The announcement was the second-to-last before the end of the year, with economic experts expecting the central bank to be responding to indicators of inflation and lacklustre economic growth.

New ZealandEconomyPersonal FinancePolitics

More Stories

ERO report says attitudes to being in school have shifted markedly, but not everyone is convinced.

Regional school terms could help attendance battle – Seymour

An Education Review Office report says it could reduce the incentive for families to take kids out of school early in order to buy cheaper airfares.

6:37pm

2:10

The Cape Palliser coast is a popular recreational hotspot. (Source: Piers Fuller)

Vehicles to be banned on scenic Cape Palliser coastline

Pedestrians and cyclists would still be allowed access to the unformed legal road in the Cape Palliser area.

6:01pm

Reserve Bank 'open' to further OCR cuts after today's 'shock treatment'

Reserve Bank 'open' to further OCR cuts after today's 'shock treatment'

The good news for borrowers at most banks was that fixed-term mortgage rates have already been falling over recent weeks in anticipation of further OCR cuts.

5:05pm

4:17

Māori Ward Candidate Raawiri Gilgen. (Source: LDR / Zita Campbell)

Gisborne candidate twice struck off medical register

Māori ward candidate Raawiri Gilgen believes his past professional conduct has bearing on his suitability for the council, but on the positive side.

4:04pm

Namulau’ulu Tala Cleverley working to register Pacific People to vote in the election. (Source: NZ Archive)

First Pasifika councillor on her struggles, pride and facing racism

Namulau’ulu Tala Cleverley, 95, served from 1979 to 1995, often as the only Pacific voice in the chamber.

3:38pm

Land at 22 Napier Road, Havelock North, on the corner of Bennelong Place, is being sold for housing. It is currently the home to community groups Havelock North Scouts and the Pottery Havelock North. (Source: Google Maps)

Havelock North land used by Scouts and potters up for sale

The Hastings District Council-owned property at 22 Napier Rd is zoned for medium-density residential housing.

2:24pm

Latest

Popular

26 mins ago

'Quiet lawn mower' with survival story seeks new flock

Millie before she was shorn. (Source: SPCA)

34 mins ago

Fire truck breaks down on its way to Auckland fire

Broken down fire truck from Grey Lynn Station on Ponsonby Rd.

56 mins ago

'Massive impacts': $180 billion of homes on flood-prone land – report

3:13

Attention now shifting to fight the impacts of climate change on the major waterway.

6:37pm

Regional school terms could help attendance battle – Seymour

2:10

ERO report says attitudes to being in school have shifted markedly, but not everyone is convinced.

6:21pm

Teens with health conditions, disabilities may lose Jobseeker benefit

2:34

Social Development Minister Louise Upston, left, and Prime Minister Christopher Luxon.

SPONSORED

Nature therapy: Everywhere I go, nature finds me

Sponsored by Department of Conservation

Nature therapy: Everywhere I go, nature finds me
1
2
3
4
5
6

More from Entertainment

Dolly Parton performs in concert on July 31, 2015, in Nashville

Dolly Parton's sister asks for prayers amid singer's 'health challenges'

The 79-year-old's younger sibling Freida said she was "up all night praying for my sister".

2:51pm

The Chase contestant Tim McCarthy

Teacher achieves dream on The Chase before losing battle with illness

64-year-old Tim McCarthy of Manchester told host Bradley Walsh he was just 'here to have fun'

Sun, Oct 5

The Life of a Showgirl became Spotify's most-streamed album in a single day in 2025 — and in its first 11 hours of release.

How Taylor Swift fans celebrated The Life of a Showgirl release

Sat, Oct 4

Taylor Swift (file image).

Swiftonomics: Why Taylor Swift will never fail

Fri, Oct 3

Graham Norton tells Hilary Barry how he keeps up the belly laughs and A-list lineups on his enduring eponymous show.

Graham Norton to Hilary Barry on lasting success and the NZ role he didn't get

Fri, Oct 3