The NZ dollar has tumbled after the central bank slashed its benchmark rate by 50 basis points. Photo: AP PHOTO

New Zealand's central bank has super-sized a fresh rate cut to help the Kiwi economy out of the ditch, eying even further easing to come.

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The Reserve Bank of New Zealand surprised analysts on Wednesday by opting for a 50 basis point reduction in the official cash rate, taking it to 2.5 per cent.

New Zealand mortgage-holders have now benefited from 300 basis points of easing in the last 14 months, compared to Australia, where the OCR has shifted just 75 in the latest cycle

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