Larry Williams Drive

As expected, the Reserve Bank cut the OCR to 2.25% last week - but an unexpected side effect has been a lack of effect. The Reserve Bank announced that this would be the end of cuts, sending the wholesale market into a panic and, therefore, seeing no change in interest rates.  Finance Minister Nicola Willis told Heather du Plessis-Allan, "my message to the banks is always the same, which is pass on as much as you possibly can because it's good for the economy." LISTEN ABOVE See omnystudio.com/listener for privacy information.