Major banks drop some home loan rates after OCR cut

Last updated October 8, 2025

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

KiwiSaver or your house - which will give better investment returns?

KiwiSaver or your house - which will give better investment returns?

Your retirement savings might have given you a better return than your house over the past 10 years, and experts say the same is probably true of the next 10.

9:15am

1:30

Labour Party leader Chris Hipkins.

'Management-speak mumbo jumbo': Hipkins responds to Luxon's address

Luxon launched a defence of his Government’s progress and reform programme, and promised there would be no deviation from its plan should it win a second term.

Monday 6:49pm

4:19

An ANZ bank (file picture).

Bank's new floating interest rate means an extra $12m profit – broker

Squirrel chief executive David Cunningham said the new mortgage interest rate will increase profits and offset the 1.5% cashback offer on new home loans.

Monday 3:56pm

"There’s real cause for optimism," Luxon told attendees at the Auckland Business Chamber event.

PM launches National's election pitch, 'optimistic' on economy

Christopher Luxon spoke in a state of the nation address in front of an Auckland business audience earlier today, saying there's "real cause for optimism".

Monday 1:38pm

4:19

New Zealand First leader Winston Peters, left, ACT Party leader David Seymour, National Party leader Christopher Luxon, Labour Party leader Chris Hipkins, Green Party co-leader Chlöe Swarbrick.

Election year starts here: what to expect from politics and the economy in 2026

Two Chrises, two rival coalitions, and lingering economic malaise will help define the political year ahead.

Monday 6:00am

4:47

Is Winston Peters on a charm offensive?

Barbara Dreaver: Peters' Pacific kiss-and-make-up trip vital as tensions rise

Peters' office said he is set to become the first foreign minister to visit all 17 other Pacific Island Forum member countries within a single Parliamentary term.

Sat, Jan 17

Latest

Popular

8:01pm

Melbourne man, 93, found dead in car; travel companions quizzed

Australian police car.

7:31pm

Asian MPs want immigration left out of seafood gathering debate

2:18

The Green Party's education spokesperson Lawrence Xu-Nan.

7:17pm

Ōtara clinic launches 24/7 urgent care to ease pressure on hospital

Patients and staff inside the Local Doctors Ōtara clinic on Watford Rd. (Source: RNZ / Luka Forman)

6:46pm

Much-loved teacher and sportsman killed in Northland's Bay of Islands

Harry Darkins. (Source: Northern Māori Cricket)

6:05pm

Around 80 trapped Northland campers home after massive slip

Tents were left broken and strewn across the Puriri Bay campground in Northland after heavy rain caused flooding on Saturday night.

5:50pm

Man's back and legs mauled in Queensland croc attack

A man in his 20s suffered puncture wounds to his lower back and legs after being attacked by a crocodile in northern Australia.
1
2
3
4
5
6

More from Entertainment

In a video posted to his social media from a recent show in Aotearoa, Carr ripped into New Zealand on a wide range of topics and stereotypes the country is known for.

'Three f***ing cities': Jimmy Carr roasts NZ in recent show

“It’s like you got to 1975 and went ‘yeah, that’s enough progress for us',” the comedian said.

5:30pm

Julian Dennison has married his partner Christian Baledrokadroka.

'Forever x': Kiwi actor Julian Dennison announces marriage

The New Zealand actor shared photos from the wedding on Instagram, with congratulations flowing in from fellow stars including Thomasin McKenzie and Mason Thames.

3:36pm

Brooklyn Beckham and Nicola Peltz attend the after-party for the Burberry Winter 2025 show during London Fashion Week at The Twenty Two on February 24, 2025 in London, England.

Brooklyn Beckham hits out at family in explosive post

1:28pm

Ed Sheeran stunned fans with a three-hour long show which covered more than 30 songs on Friday night at Auckland's Go Media Stadium.

'Deep, deep love': Ed Sheeran says NZ feels like home at Auckland show

Sat, Jan 17

Chase host Bradley Walsh

Bradley Walsh says he hasn't watched the Chase 'in years'

Thu, Jan 15