The SME Stream

Mortgage holders have been hoping the banks will pass on the latest 50 basis point cut to the OCR - but many will have to wait. New Zealand's major banks have all cut their floating rates, but only ASB's fixed-term mortgage rate has moved down so far. Mortgage advisor Bruce Patton says the banks had largely predicted the OCR would drop by 50 basis points - and priced their earlier cuts accordingly...

The Reserve Bank of New Zealand has cut the OCR by 50 basis points in the final announcement of the year.  Many are of the mindset that it's low enough to fix for a longer term - but that may not be the case.  Experts say even though the cuts are looking good, banks aren't fully reflecting them in mortgage rates.  LISTEN ABOVE The podcasts in the SME Stream contain general information only, not fi...

Cautious optimism from the meat sector as it braces for the impact of a US presidency change. Donald Trump's campaigned on tariffs of up to 20 percent on all imports, with higher tariffs for imports from China. Silver Fern Farms chief executive Dan Boulton says they're still unsure if New Zealand will actually be affected. He told Ryan Bridge the tariffs will focus on nations which have a trade im...

The Reserve Bank moved to cut the OCR by 50 basis points in its final decision for 2024. New Zealand's biggest banks have adjusted their floating rates accordingly - but no significant cuts have been reported yet.  NZ Herald business editor at large Liam Dann explains further. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professional advice. Any op...

As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina Shrimpton each week as she gives you a rundown of the biggest stories that could impact on your business, so you can make informed decisions with expert advice. In this weekly wrap, we unpack all the reaction and predictions from the recent OCR cut, the latest retail trade survey numbers...

There's questions over what will come next for the OCR after today's 50 basis point cut. The Reserve Bank has hinted more cuts will come in the new year. However, Infometrics Principal Economist Brad Olsen has warned this might not be the right approach. "A lot of economic forecasters are wondering - when do we get back to those more normal and considered steps, given that the economy is already s...

The US economy is just humming along at the moment, isn't it? 2.8% is their lucky number this morning. 2.8% annualised GDP for the September quarter. Better than the Eurozone, better than the UK, and much better than New Zealand.  We're still going backwards. We went balls to the wall with interest rate hikes post Covid and we were the first to do it. Adrian Orr and the Reserve Bank held higher fo...

The Finance Minister's playing down expectations of a surplus, ahead of Treasury's opening of the books next month.  The Reserve Bank cut the Official Cash Rate by half a percent, to 4.25 -- warning of slower economic growth.  Finance Minister Nicola Willis told Ryan Bridge the OCR cut is welcome news, but agrees there is still more to do.  "Of course, we want to see the economy growing faster, th...

Homeowners can expect some relief - as the Reserve Bank cuts the OCR down in its final update of the year. The central bank has slashed the rate 50 basis points today - to sit on 4.25 percent. It's now forecasting 4.1 percent by March next year, 3.6 percent by the end of next year, with an endpoint of 3.1 percent by March 2027. ZB political correspondent Barry Soper says Governor Adrian Orr has wa...

It’s a tale of two economies, for now.  The Reserve Bank is forecasting more OCR cuts next year, sooner than previously expected, after yesterday's 50-basis point cut to 4.25%.  But Governor Adrian Orr says growth remains weak globally.  Former Finance Minister Steven Joyce told Mike Hosking there are green shoots in the economy, but they're confined to specific sectors like commercial property, d...

The Reserve Bank remains concerned about domestic inflation as it points to more OCR cuts next year following the latest 50 basis point cut.  Inflation is now at 2.2%, with weak global demand pushing tradeable inflation down to -1.6%.  But non-tradeable inflation —things like insurance, rates, power and rents— remains at 4.9%.  Reserve Bank Assistant Governor Karen Silk told Mike Hosking that need...

The Labour leader says New Zealand needs an honest conversation about paying for its future.   Our newsroom understands party delegates will vote on whether to support a capital gains or wealth tax at its annual conference this weekend.   Chris Hipkins says about 70% of government tax revenue comes from personal income taxes - while the OECD average is half as much.  He told Kerre Woodham that's b...

The Reserve Bank is set to make its final decision for the Official Cash Rate for the year tomorrow afternoon.  The general consensus among experts is that the OCR will be cut by at least 50 basis points. HSBC chief economist Paul Bloxham says the Reserve Bank needs to strike the right balance for the economy. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financ...

President-elect Donald Trump has threatened to hit Mexico, Canada and China with new tariffs as soon as he takes office. In a post on social media, Trump promised to charge Mexico and Canada an additional 25 percent tariff on all products they send to the US - and an additional 10 percent tariff will be placed on Chinese goods. Infometrics Principal Economist Brad Olsen says these trade changes co...

Tonight on The Huddle, Jordan Williams from the Taxpayers' Union and former Labour Chief of Staff Mike Munro joined in on a discussion about the following issues of the day - and more!  Former National MP Nikki Kaye died aged 44 after a lengthy battle with cancer. People from all sides of the political spectrum came together to pay tribute to her - what made her so special? What will we remember a...

A former Reserve Bank economist says there's a case for the Reserve Bank cutting the Official Cash Rate by 75 basis points.   The Reserve Bank will release its latest decision today.   It's widely expected to cut the rate by 50-basis points from 4.75% to 4.25%.   Former reserve bank economist Michael Reddell told Mike Hosking the Reserve Bank's view of an OCR of 2.5-3% as being neutral is the best...

I reckon former Labour Party leader David Cunliffe might have just done the best sell job on a capital gains tax that any politician in New Zealand —or anyone for that matter— has ever managed to do.  It might have something to do with the fact that taxes —of any sort— get people rather fired up, and a lot of people are anti-capital gains tax. In my experience, even people who say they’re on the l...

[VIDEO EPISODE ON YOUTUBE & SPOTIFY] Interest rates are continuing to be cut, with another Reserve Bank move expected this week. How soon will it result in economic relief? The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for...

The Finance Minister's foreshadowing an update on whether the Government's books are still on track for surplus in 2027-2028.  Nicola Willis will deliver the half yearly economic and fiscal update in about three weeks.  She says that will illustrate the latest forecasts for a surplus - and seemed to caution against unrealistic expectations. "I've always been clear - I'm not going to chase a surplu...

New Zealand is bracing for a high stakes poker game, preparing for Donald Trump’s tariffs to be introduced.  The US Business Summit is taking place in Auckland, and Trump is set to be a significant talking point.  NZ Inc Managing Director Fran O’Sullivan told Ryan Bridge that there’s likely to be an element of negotiation when it comes to the implementation of tariffs.  She says that Trump’s selec...

[VIDEO EPISODE ON YOUTUBE & SPOTIFY] Resene Paint has been in the business of colour for 78 years. But the family-owned company is now facing margin pressure in its manufacturing operation. The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ...

The Reserve Bank is set to meet for the last time this year to review the Official Cash Rate. Economists predict a cut will come - but it's unclear if the Bank will cut as high as 75 percent. NZ Herald business editor at large Liam Dann unpacks the odds. LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the...

As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina Shrimpton each week as she gives you a rundown of the biggest stories that could impact on your business, so you can make informed decisions with expert advice. In this weekly wrap, we’re just a few days out from the next OCR announcement so what can we expect? We unpack new job dat...

A senior Reserve Bank official has taken aim at the big banks and accused them of stifling innovation and competition by underinvesting in technology. Addressing delegates at a Payments NZ conference on Tuesday, the banking regulator’s director of money and cash, Ian Woolford, claimed there was a role for better regulation to push banks to keep up with their peers overseas. But the banks have push...

New crime figures are a mixed bag for retailers.  Data released by the Police Minister shows a 61% drop in ram raids in the first nine months of the year, compared to the same period in 2023.  But thefts at retail premises are up 12%, and there's been no change in breaking and entering or acts intended to cause injury.  Dairy and Business Owner's Group Vice Chairperson, Ash Parmar told Ryan Bridge...