The RBNZ shocked the market today by cutting the Official Cash Rate by 50bps to a record low of 1.00%, in response to downside risks to both domestic and global growth. Today’s rate cut should help to boost business and consumer confidence, and support the housing market.

Carrick Lucas from our NZ Fixed Income team talks through the main points from today’s announcement, and where to next for the RBNZ with interest rates expected to remain lower for longer.