Christopher Luxon remains hopeful the latest cut in the OCR isn't the last.

The Reserve Bank's dropped the Official Cash Rate 25 basis points to 3.25%, and is now forecasting it will reach a low of 2.9 percent in December.

But the Monetary Policy Committee wasn't able to reach a unanimous decision to cut the cash rate.

The Prime Minister told Mike Hosking Acting Governor Christian Hawkesby is dealing with a period of global uncertainty.

He says there's a huge amount of volatility that Hawkesby is navigating, but the economy is turning a corner.

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