Falling interest rates, and easing inflation

Westpac's made a move on interest rates, after the Reserve Bank yesterday said it expects inflation to return within the target range this year.

It's cutting its six, 12, and 18-month advertised home loan rates 25 basis points.

Meanwhile, Stats NZ says food prices have dropped 0.3 percent in the year to June, the first annual decrease in six years.

Overall annual inflation figures to June will be out next Wednesday.