Last week’s OCR cut received a lot of attention, and rightly so. It was the first since 2020, and it marked the end of 15 months at 5.50 per cent, the highest since 2008. That sparked the biggest two-day rally in New Zealand shares for two years, and the beginning of the easing cycle has seen the market rebound more than ten per cent from the lows of recent months. Is this optimism justified, will it last, and how have shares, bonds and property performed in the past following interest rate cuts?