Chris Luxon: Prime Minister says banks should be passing OCR rates to customers, or customers should switch banks

Chris Luxon says banks need to be passing on their OCR cuts to customers - and customers should be switching banks if they don't. Mortgage rates have been falling significantly, following recent OCR cuts. But the Reserve Bank says the banks still have room to move, to be cutting the rates further. The Prime Minister says [told Mike Hosking] banks should be competing for customers, and customers should be trying to get the best deal they can. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professional advice.See omnystudio.com/listener for privacy information.