OCR cut by 50 basis points
Thursday, March 10th 2011, 9:03AM
The official cash rate has been cut by 50 basis points to 2.50% this morning and already we've seen equivalent reductions in floating rates by most of the major banks.
ASB, BNZ, National, Kiwibank and Westpac have all dropped floating rates by 50 basis points with BNZ also cutting its six-month rate by 45 bps. ANZ chose to be a bit different and cut its floating rate by 46bps.
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