• Nicola Willis: Finance Minister reacts to OCR being cut 50 points, talks growth

  • Nov 27 2024
  • Length: 6 mins
  • Podcast

Nicola Willis: Finance Minister reacts to OCR being cut 50 points, talks growth

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  • Summary

  • The Finance Minister's playing down expectations of a surplus, ahead of Treasury's opening of the books next month.

    The Reserve Bank cut the Official Cash Rate by half a percent, to 4.25 -- warning of slower economic growth.

    Finance Minister Nicola Willis told Ryan Bridge the OCR cut is welcome news, but agrees there is still more to do.

    "Of course, we want to see the economy growing faster, that's why we're so focussed on removing red tape, making sure people can get resource consents quicker, and getting infrastructure out the door," she said.

    She says forecasts show the economy will grow much faster in 2025, compared to this year.

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