Mike Jones: BNZ Chief Economist on the probable 50 basis point cut to the OCR

Another large cut to the Official Cash Rate's on the cards today. 

Economists and markets are almost certain the Reserve Bank will slash the OCR by 50-basis points. 

That would take the cash rate from its current 4.25% to 3.75%. 

BNZ Chief Economist Mike Jones told Mike Hosking that things are tracking as the Reserve Bank expected when they last met in November of last year. 

He says that in that meeting, the Reserve Bank essentially said they would cut 50 points unless something threw them wildly off track, and he doesn’t believe that’s happened. 

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