There are expectations that cuts to the Official Cash Rate are now going to keep on coming.

Yesterday's Stats NZ figures show our GDP contracted 0.2% in the three months to June.

In the March quarter, 0.1% growth was recorded.

ASB Chief Economist Nick Tuffley says the numbers show inflation's falling within the Reserve Banks expectations.

He told Ryan Bridge they're now going to continue cutting the OCR to get it from 5.25% to around 3%.

Tuffley says if they cut a quarter every meeting, we'll reach that target by October next year.

LISTEN ABOVE

There are expectations that cuts to the Official Cash Rate are now going to keep on coming. 
Yesterday's Stats NZ figures show our GDP contracted 0.2% in the three months to June. 
In the March quarter, 0.1% growth was recorded. 
ASB Chief Economist Nick Tuffley says the numbers show inflation's falling within the Reserve Banks expectations. 
He told Ryan Bridge they're now going to continue cutting the OCR to get it from 5.25% to around 3%. 
Tuffley says if they cut a quarter every meeting, we'll reach that target by October next year. 
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Nick Tuffley: ASB Chief Economist says that the OCR will likely continue to be cut in the wake of the GDP slump

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b2087723-adf6-45c6-806c-b1f00153d604/transcript

ACT is calling for an end to taxpayer-funded election ads. 

They’re calling for the Government to consider ceasing the “broadcasting allocation”, given to election campaigns to buy television and radio ads. 

MP Todd Stephenson suggested it in the Justice Select Committee’s inquiry into the 2023 election, and the report was made public this week.  

He told Ryan Bridge the taxpayer doesn’t need to be forking out just over $4 million every year for political parties to pay for their TV and radio ads. 

LISTEN ABOVE 

ACT is calling for an end to taxpayer-funded election ads.&nbsp;
They’re calling for the Government to consider ceasing the “broadcasting allocation”, given to election campaigns to buy television and radio ads.&nbsp;
MP Todd Stephenson suggested it in the Justice Select Committee’s inquiry into the 2023 election, and the report was made public this week. &nbsp;
He told Ryan Bridge the taxpayer doesn’t need to be forking out just over $4 million every year for political parties to pay for their TV and radio ads.&nbsp;
LISTEN ABOVE&nbsp;

Todd Stephenson: ACT MP on the call for an end to the broadcasting allocation

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6c5a84b1-f3f2-4acf-a9af-b226015b19f4/transcript

After days of mounting pressure, the Archbishop of Canterbury is stepping down over his handling of abuse allegations. 

Justin Welby —the leader of the Anglican Church— has been under fire following the release of a report into abuser John Smyth. 

Smyth, who is believed to be the most prolific child abuser associated with the Anglican Church, died in 2018 without facing justice. 

Correspondent Gavin Grey told Ryan Bridge the report's found Welby failed to take appropriate action. 

Specifically, he says the report found Welby hadn't followed up rigorously on reports of abuse of 100 young boys and men that go back as far as 2013.

LISTEN ABOVE 

After days of mounting pressure, the Archbishop of Canterbury is stepping down over his handling of abuse allegations.&nbsp;
Justin Welby —the leader of the Anglican Church— has been under fire following the release of a report into abuser John Smyth.&nbsp;
Smyth, who is believed to be the most prolific child abuser associated with the Anglican Church, died in 2018 without facing justice.&nbsp;
Correspondent Gavin Grey told Ryan Bridge the report's found Welby failed to take appropriate action.&nbsp;
Specifically, he says the report found Welby hadn't followed up rigorously on reports of abuse of 100 young boys and men that go back as far as 2013.
LISTEN ABOVE&nbsp;

Gavin Grey: Europe Correspondent on the Archbishop of Canterbury standing down over his handling of abuse allegations

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0c614add-e921-447d-a99d-b22601524e2e/transcript

Commuter chaos. 

It's one of the prices we must pay for living in a democracy. 

I know this won't be popular with Aucklanders this morning or others around the country where this hīkoi is heading, but it's a cost we must bear. 

They're closing two lanes of the Harbour Bridge this morning, and if you've got kids getting to an NCEA exam, then you will be fuming about this. 

But let's remember, this is a one-off protest. 

It's not like those dickheads from the public rail or whatever they were in Wellington. Remember them? They repeatedly shut down the motorways. They did it time and time again. They repeatedly stopped the ambulances from getting to call outs, the kidney patients from getting to dialysis. 

They deserved to be swept to the curb, and it seems like for the most part they have been, which is a good thing. 

This is a one off from a group of people who feel, rightly or wrongly, that they're getting a hard time from this government. They feel they're not being heard in our democracy. 

And whether you agree with that or not is beside the point, the point is we live in a democracy and the right to protest is, well, a right. 

It can be an annoying one, but the minute you say you can't do it, we all lose. 

If we learned anything through Covid, it's that this whole system is rather fragile when people feel ostracized or maligned – we do better to listen rather than suppress and silence debate and dissent. 

Commuter chaos.&nbsp;
It's one of the prices we must pay for living in a democracy.&nbsp;
I know this won't be popular with Aucklanders this morning or others around the country where this hīkoi is heading, but it's a cost we must bear.&nbsp;
They're closing two lanes of the Harbour Bridge this morning, and if you've got kids getting to an NCEA exam, then you will be fuming about this.&nbsp;
But let's remember, this is a one-off protest.&nbsp;
It's not like those dickheads from the public rail or whatever they were in Wellington. Remember them? They repeatedly shut down the motorways. They did it time and time again. They repeatedly stopped the ambulances from getting to call outs, the kidney patients from getting to dialysis.&nbsp;
They deserved to be swept to the curb, and it seems like for the most part they have been, which is a good thing.&nbsp;
This is a one off from a group of people who feel, rightly or wrongly, that they're getting a hard time from this government. They feel they're not being heard in our democracy.&nbsp;
And whether you agree with that or not is beside the point, the point is we live in a democracy and the right to protest is, well, a right.&nbsp;
It can be an annoying one, but the minute you say you can't do it, we all lose.&nbsp;
If we learned anything through Covid, it's that this whole system is rather fragile when people feel ostracized or maligned – we do better to listen rather than suppress and silence debate and dissent.&nbsp;

Ryan Bridge: The price we must pay for living in a democracy

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/67dde5b3-7bc4-4110-945a-b22601324d4c/transcript

Nick Tuffley: ASB Chief Economist says that the OCR will likely continue to be cut in the wake of the GDP slump

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