Most banks have cut their advertised rates following yesterday's OCR decision. 

The Reserve Bank cut the Official Cash Rate by 25-basis points, going from 2.5% to 2.25%. 

Kiwibank was the first to move. 

Chief Executive Steve Jurkovich told Mike Hosking it's a positive sign of things to come, with their team now forecasting a steady period of cuts from now to June 2027. 

He said that people are unlikely to get carried away with the cuts, rushing out and buying new houses, cars, or technology. 

LISTEN ABOVE 

• Adrian Orr defends OCR cut, says monetary policy can't be driven "through the rear view mirror"
• "I do trust the Reserve Bank to do their jobs": Finance Minister refuses to weigh in on OCR debate
• Jenee Tibshraeny: Was the Reserve Bank bluffing last time?