Steve Jurkovich: Kiwibank CEO on the the bank cutting their advertised rates after yesterday's OCR cut

The Mike Hosking Breakfast

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2M ago 3:16

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Most banks have cut their advertised rates following yesterday's OCR decision.

The Reserve Bank cut the Official Cash Rate by 25-basis points, going from 2.5% to 2.25%.

Kiwibank was the first to move.

Chief Executive Steve Jurkovich told Mike Hosking it's a positive sign of things to come, with their team now forecasting a steady period of cuts from now to June 2027.

He said that people are unlikely to get carried away with the cuts, rushing out and buying new houses, cars, or technology.

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