Kiwibank has already made a cut ahead of this afternoon’s OCR announcement. 

The Reserve Bank is set to announce a cut to the Official Cash Rate, with economists and the market predicting a cut of 50 basis points. 

Kiwibank has taken 50 basis points off their floating loan rates, potentially pre-empting the bank’s decision.  

CEO Steve Jurkovich told Mike Hosking that they’d be disappointed if the Reserve Bank were to only cut by 25 points. 

He said that people, businesses, and their customers are really, really hoping for 50, and he thinks it's the right thing to do. 

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