OCR cut: Deputy leaders at odds over NZ's economic prospects | TVNZ Breakfast

Nicola Willis and Carmel Sepuloni joined Breakfast this morning to unpack the latest official cash rate announcement from the Reserve Bank.
The Reserve Bank announced the official cash rate will be cut to 5.25% - the first reduction in four years.
Later, Ray White chief economist Nerida Conisbe told Breakfast the reduction to the official cash rate is likely to have a positive impact for home owners, business and consumers.
Key points:
- National Party deputy leader Nicola Willis believes the economy is "on track" and the decrease in the OCR means the Reserve Bank thinks "inflation is under control"
- Labour Party deputy leader Carmel Sepuloni says the economy is not where they thought it would be, with unemployment "going up", and "forecast to get worse"
- Finance and mortgage advisers say the OCR cut is good news but calls on the banks to pass on the relief right now.
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