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Dear John,
 
The Official Cash Rate has been reduced by 50 basis points to 3.75%. This is the fourth reduction since August last year and means the total rate has fallen 1.75 points in that time. 
 
That means our plan to reduce inflation is working, the Reserve Bank is easing interest rates, and your mortgage repayments will get more affordable. This means you should see more money in your pockets in the coming months. 
 
Inflation is under control and we're on the path to economic recovery. We’re focused on driving inflation down further to ease the cost-of-living pressure you’re facing.
 
It’s still really tough out there – many families and businesses are still feeling the squeeze, and we know that there’s more to do – but we’re committed to ensuring that we’re doing the best we can for New Zealanders.
 
More people in work, more money in people’s pockets, and a stable economy – that’s our vision for your future. We’re on the right track, and our goal is clear: keep building an economy that works for everyone, with growth that benefits us all.
 
Christopher
 

 

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