There's a warning sluggish growth needs active Government intervention to fix.

The Reserve Bank has today highlighted the problems the industry's facing saying in a worse case scenario 10 to 15 percent of them could default on their loans to the banks.

The Official Cash Rate has been cut to its lowest level ever at 2.25 percent which will help.

SEE ALSO: Reserve Bank surprises, cuts rates to 2.25pc

Labour's finance spokesperson Grant Robertson said the ball is now in the Government's court to help out.

But struggling dairy farmers are being told by the Finance Minister they're on their own. Bill English said the Government is not about to bail them out.

"They've had a pretty good ten years, a lot of them are in pretty good financial shape. When other businesses come under pressure the Government's not there to bail them out in some way."

SEE ALSO: Federated farmers welcome OCR cut