A financial advisor says the OCR cut is good news for mortgage holders, bad news for those with term deposits
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The Reserve Bank was widely expected to cut the OCR today from 1.5% to a record low of 1.25%.Â
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In fact they made a 0.5% cut.
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Tim Fairbrother, owner of Rival Wealth, told Simon and Phil a lot of people will be surprised by the move.
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