OCR cut to go to cost of living, no relief for renters

A budget adviser believes interest rate cuts will simply be absorbed into paying the ever increasing costs of living and renters will likely see no relief. The reserve bank cut the official cash rate by half a percent, to 3.75 percent. It's the third consecutive jumbo cut and could see some households paying less in mortgage payments. Family Finances Services Trust manager and budget adviser Heather Lange spoke to Lisa Owen.