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Reserve Bank Governor Adrian Orr is confident inflation is finally being brought under control. The central bank has hiked the Official Cash Rate by a further 25-basis points to 5.5 percent, lower than the the 50-basis-point rise some had been expecting. It's also indicating the OCR won't be raised any further, despite many economists predicting it would be. Adrian Orr told Mike Hosking all indica...

Reserve Bank Governor Adrian Orr is in a difficult situation. The central bank has hiked the Official Cash Rate by a further 25 basis points to 5.5 percent. But it's also surprised many by indicating it's unlikely to hike the OCR any further, before it starts to cut the OCR towards the end of next year. Former Reserve Bank Governor Don Brash told Mike Hosking while he's as shocked as everyone else...

Some good news, and some bad news, from the Reserve Bank. The central bank has hiked the Official Cash Rate by a further 25 basis points to 5.5 percent. But it's also indicated no further hikes are likely, before the OCR starts coming down towards the end of next year. That weakening is already being felt in the retail sector, where new figures show spending is continuing to slide. Retail NZ Chief...

Tonight on The Huddle, Jack Tame from ZB's Saturday Mornings and Q&A and Phil O'Reilly from Iron Duke Partners joined in on a discussion about the following issues of the day- and more!  Police Minister Ginny Andersen today conceded the increase in crime is not just down to more reporting, a contrast to Sunday's claims that a new app was contributing to rising crime figures. Is this gaslightin...

The Reserve Bank today hiked the OCR up further, citing high inflation for the move.  The cash rate has been lifted 0.25 basis points to 5.5 percent, and Governor Adrian Orr says rates will need to stay elevated to ensure inflation gets back below 3 percent. Milford Asset Management analyst Katlyn Parker says holding rates to this level while forecasting negative growth and rising unemployment is...

Napier Port is reporting a slight drop in half year profits, thanks to Cyclone Gabrielle. Net profits have fallen 3.3 percent in the six months ended March compared with a year ago, to $8.7 million. Napier Port CEO Todd Dawson says Cyclone Gabrielle 'took the shine' off what would have otherwise been a solid result for the first half-year. "Napier Port itself didn't suffer too much damage from the...

The Reserve Bank has today raised the Official Cash Rate by 25 basis points - taking it to 5.5 per cent. RBNZ still sees 5.5 per cent as the peak for OCR and anticipates cuts from the third quarter of 2024. The Kiwi dollar dropped by half a cent against the US dollar following the announcement. NZ Herald Business Editor-at-Large, Liam Dann, joined Simon Barnett and James Daniels Afternoons for to...

Economists predict the Official Cash Rate will rise today, but opinions differ on whether it'll be a 25 basis point increase, or 50. Mortgage advisory firm Squirrel Chief Executive, David Cunningham, has penned an open letter to the Reserve Bank Governor saying they shouldn't lift the OCR. He says the effects of measures already taken are still unrolling. He told Kerre Woodham his letter is born o...

Joining the likes of Bordeaux, Napa Valley and Adelaide - Hawke's Bay has been recognised as a world class wine destination. The region has taken the crown as one of the 12 Great Wine Capitals of the world. President of the Adelaide South Australia Great Wine Capitals steering committee Jo Collins joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Brace for another hike to interest rates, with the Reserve Bank reviewing the Official Cash Rate this afternoon. Westpac Chief Economist Kelly Eckhold and JMI Wealth Director Andrew Kelleher are predicting a 25-basis point hike. However, ASB Chief Economist Nick Tuffley told Mike Hosking he's expecting a bigger hike. “A 50 and done.” LISTEN ABOVE       See omnystudio.com/listener for privacy infor...

National is downplaying the cost of their tax cuts, amid calls for the party to front up. The Council of Trade Unions is picking the policy will cost up to $8.2 billion over four years. But National's finance spokesperson Nicola Willis says next year, the Government will collect $48 billion more in tax than it did in 2017. She told Mike Hosking that means the $8.2 billion number the CTU has used r...

What first started out as a report into sexual misbehaviour in the law industry, has now become a proposal from the New Zealand Law Society to introduce a new statutory duty for lawyers - including discharging their duties in accordance with the principles of the Treaty. The meaning of the principles are uncertain, but if not followed could result in disciplinary action to be taken against lawyers...

The Official Cash Rate is expected to take another hike today. An announcement will be made by the Reserve Bank at around 2pm this afternoon. Most economists are holding out for a 25 basis point increase to 5.5 percent. Westpac Chief Economist Kelly Eckhold joined Kate Hawkesby to discuss a potential rise. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

The Government may return ETS revenue back to Kiwi households. Officials have been giving the Government advice on potentially giving New Zealanders a dividend from the Emissions Trading Scheme. New Zealand Initiative Chief Economist Eric Crampton says Canada has a version of this policy in place and most carbon tax payments are returned to households. "The Canadian Minister was able to stand up a...

The Government's partnership with NZ Steel is poised to boost the nation's fight against climate change. NZ Steel will receive up to $140 million to help replace half the coal used at its Glenbrook site with electricity. BusinessDesk editor Pattrick Smellie says this deal is corporate welfare, but it'll reduce more emissions and cost less than the Clean Car scheme. "We're spending somewhere betwee...

Used car retail company Turners claim recent record earnings were generated by a popular ad campaign. Turners revealed their net profits went up by 4 percent to $32.6 million, and they've attributed some of this success to their crowd-pleasing 'Tina from Turners' campaign. Turners chief executive Todd Hunter says Tina has resonated and connected with people, and she's really helped boost sales. "I...

There was a headline, my despair and a crime committed all in one story. So what was the headline? "Want free tickets to the Warriors in Napier? Fill out your uncompleted census forms." It's a nice ad for the Government's $150,000 giveaway to dead beats, the lazy, the unengaged and general freeloaders. The first crime is it's yet another sign of how the Government panders to people who can't be bo...

Privacy concerns are behind a €1.2 billion fine against Meta, the operators of Facebook, WhatsApp, and Instagram. The European Union has slapped the fine on the social media giant, after an inquiry into transferring overseas data. Europe Correspondent Catherine Field told Mike Hosking the EU believes this concerns millions of users. She says it's believed Meta hadn't done enough to protect data be...

The Prime Minister is standing by government spending, despite the part it may be playing in driving up inflation and interest rates. Economists are now firmly divided on whether the Reserve Bank should keep the Official Cash Rate unchanged at 5.25 percent tomorrow, or raise it by a further 25 or 50 basis points. But most economists now expect the OCR to peak higher than expected, due to the infla...

The ratio of sheep to people has dropped below 5 to 1 - the lowest number since the 1950s. Stats NZ has released its five-yearly Agricultural Production Census, which shows decreases in the national dairy herd and sheep flock. Federated Farmers Meat and Wool Chairman Toby Williams told Kate Hawkesby the fall in numbers shouldn't have much of a direct impact on our exports. "It'll make our product...

An economics professor says Working For Families abatement thresholds have fallen behind and should increase. The Government lifted the abatement threshold in 2017, from a little more than $36,000 to $42,700. But wage growth has pushed many families over the limit for receiving it. Auckland University associate economics professor Susan St John told Kate Hawkesby an increase between $52,000 and $5...

Bus drivers eagerly await their turn to discuss working conditions today. Transport Minister Michael Wood is meeting with union representatives in Auckland - the hot topics: wages and conditions. More than 500 bus drivers have been hired since November, meaning Go Bus and NZ Bus numbers in main centres will be back to full strength in coming weeks. Council of Trade Unions President Richard Wagstaf...

Auckland’s $5.5 billion  City Rail Link (CRL)  will not open until sometime in 2026 or later, the  Herald  can reveal. This is at least 18 months longer than what was forecasted only a few months ago when the cost of the project blew out by $1.1b to $5.5b and the completion date moved from late 2024 to November 2025. In an exclusive interview during a tour of the mega-project, City Rail Link chief...

Create a digital copy of your voice in just 15 minutes   Apple's soon-to-be-released feature "Personal Voice" is designed for people who may be going to lose their voice, to be able to capture it digitally, and use it to communicate with others when they can't - Apple is calling it your "synthesized voice". It's open to everyone though, hinting at what may become more commonplace in the near futur...

Kevin Milne feels it's becoming inevitable that a wealth tax will be introduced here in New Zealand.   He says he'd like to involve Jack Tame in a discussion around this this because he know Tame will have a view.   LISTEN ABOVE See omnystudio.com/listener for privacy information.