As Australia's interest rates continue to be cut, economists are picking the flood of New Zealanders returning from across the Tasman to continue.

The Australian Reserve Bank has cut its official cash rate to a record low two percent today.

Westpac chief economist Dominick Stephens says that means more New Zealanders will come home.

"What we're seeing is New Zealanders flooding back for Australia, or failing to leave for Australia. That's boosted our population growth quite substantially, and I'd expect that to continue for some time."

Dominick Stephens say the cut was expected.

"This is no surprise really, we've been anticipating a 2nd cash rate cut. The Australian economy has been in a weak position for quite some time."