Paul Bloxham: HSBC chief economist on the Reserve Bank cutting the OCR by 25 basis points

Homeowners have been able to breathe a sigh of relief following the Reserve Bank's decision to cut the OCR. The cash rate was cut by 25 basis points after their August meeting, down to 5.25 percent.  HSBC chief economist Paul Bloxham explains that the RBNZ had to meet expectations to keep the economy in check. LISTEN ABOVESee omnystudio.com/listener for privacy information.