The Reserve Bank has just lowered the Official Cash Rate (OCR) from 5.5% to 5.25%.

This move, announced by Reserve Bank Governor Adrian Orr, is expected to influence borrowing costs and economic growth throughout New Zealand.

The rate cut aims to provide some relief to borrowers and stimulate economic activity.

For many in the Hibiscus Coast, this could mean more manageable loan and mortgage payments, potentially boosting local spending and investment.

The decision comes in response to current economic conditions, including inflation and growth trends.

The Reserve Bank's approach seeks to balance supporting economic expansion with controlling inflationary pressures.

Stay tuned to the Hibiscus Coast App for updates on how this change might impact your finances and local businesses.