OCR

OCR

New Zealanders are being told yesterday's unexpected cut to the Official Cash Rate will provide some relief for those struggling with the cost of living crisis.

Impact on Home Buyers

The OCR cut is expected to have a positive impact on home buyers, as it may lead to lower mortgage rates. This could make homeownership more affordable for many New Zealanders, especially first-time buyers who have been facing challenges in the current housing market.

Benefit for Retailers

Retailers are also expected to benefit from the OCR cut, as it may stimulate consumer spending. With lower interest rates, consumers may have more disposable income to spend on goods and services, which could help boost the retail sector and support economic growth in New Zealand.