Vittoria Shortt: ASB Chief Executive on the OCR dropping by 50 basis points
Kiwis could expect another cut to the Official Cash Rate before Christmas. The Reserve Bank has cut the OCR by 50 basis points, following a 25-basis point cut in August. Banks are following through with further interest rate cuts. ASB Chief Executive Vittoria Shortt told Mike Hosking the neutral rate is about 3.25%, so the central bank still has a way to go. She says it could drop another 50 basis points next month, provided inflation is back under control. LISTEN ABOVE See omnystudio.com/listener for privacy information.