Banks lower variable mortgage rates following OCR cut

Thursday 9 October 2025 · 2 outlets · 3 reports · updated Thu 9 Oct 2025, 10:59am

In this story NZME, Reserve Bank of New Zealand, ANZ, Westpac, ASB, BNZ

Following the Reserve Bank's 50 basis point reduction of the Official Cash Rate to 2.5%, BNZ and Kiwibank have lowered their variable home loan rates. Finance Minister Nicola Willis stated that early data suggests economic growth returned during the September quarter.

How they headlined it

8:02am10:55am

1. 1NewsThu 9 Oct 2025, 8:02am

   More mortgage rate moves in wake of major OCR cut (opens in new tab)

2. NZ HeraldThu 9 Oct 2025, 10:55am

   Reserve Bank rate cut signals economy turning a corner, says Nicola Willis (opens in new tab)

   • OCR cut: Kiwibank, BNZ drop variable home loan rates after Official Cash Rate fall (opens in new tab) Thu 9 Oct 2025, 10:59am