When the official cash rate was cut by 50 basis points, the banks responded by passing on the full cut to floating rates.

New Zealand's central bank cut the cash rate by 50 basis points to 4.25% on Wednesday, as annual inflation ran near the 2% midpoint of its target range and economic activity remained subdued. The decision was in line with expectations,

New Zealand’s central bank slashed its benchmark interest rate by 50 basis points to 4.25%, marking a third straight cut to its benchmark interest rate.