Official cash rate cut a double edged sword for NZers
For most New Zealanders a drop in the official cash rate is a double edged sword. The Reserve Bank has cut the benchmark rate, for the first time in more than two years, in a bid to stimulate growth and protect against a slowing world economy. The drop to a record low of 1.5 percent was quickly followed by announcements from Westpac, ANZ and Kiwibank that both lending and deposit rates will also go down - a bit. Our reporter Charlie Dreaver spoke to both the winners and the losers..