Keep the savings coming to keep the interest rates tumbling

"Today’s OCR cut is welcome relief for households, and it’s no accident," says ACT Leader David Seymour.

"Households coming off mortgages in the sevens or eights are now renewing in the fours. That’s real relief, driven by real discipline.

"Lower interest rates are the dividend of the government saving money. When government stops the waste and reins in spending, the Reserve Bank can deliver relief.

"ACT has saved billions in government, that’s helped bring inflation down, and with it, interest rates.

"Taxpayers, mortgagors, and shoppers still paying for the economic vandalism of Grant Robertson’s COVID response: billions borrowed in panic and spent with no thought of the consequences. But this Government is cleaning up the mess. ACT promised change, and rolling mortgage relief is just one sign it’s working."