OCR Cut by 0.25%

Reversing the last of the 4 OCR raises in 2014 the Reserve Bank has cut the Official Cash Rate to 2.50% this morning.

Citing low inflation and a hope that the new Tax and LVR measures on property are easing Auckland house price increases the Bank remains ready to cut again if the data warrants it.

ANZ was the first to pass on the 0.25% in full on its Revolving Credit and Floating interest rates.