Christian Hawkesby: Acting Reserve Bank Governor on the OCR cut, future developments

Don't bank on further cuts to the Official Cash Rate.  The Reserve Bank's dropped the OCR 25 basis points to 3.25%, and is now forecasting it could reach a low of 2.9% by the end of the year.  But Governor Christian Hawkesby says further cuts aren't guaranteed.  He told Mike Hosking they're taking things one step at a time, as they wait to see how global developments affect the economy and inflation.  Hawkesby says the OCR is now close to "neutral" and the Reserve Bank's next move won't be pre-programmed, it will depend on how things unfold.  LISTEN ABOVE See omnystudio.com/listener for privacy information.