OCR Surprise Cut by 0.5%

Keeping it short and sweet, the Reserve Bank has sprung a surprise and cut the OCR by a full 0.5%. 

Although this is good news for borrowers, with lower interest rates likely to follow, it does indicate that the economy is not performing well. 

Let’s hope the weaker economic data improves over the next year or so and that we are able to manage our way through this economic period.