Earlier this week the Reserve Bank dropped the official cash rate by 50 basis points to one percent, citing slowing GDP growth over the past year and declining international trade.
But what does this actually MEAN? And how will it affect people's savings, home loans, and credit card debt? And what happens if the OCR drops into negatives?
Economist Oliver Hartwich is the executive director of the New Zealand Initiative think-tank and joins us to chat about this.
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