The Finance Minister believes the country is in a position to grow.  

The Reserve Bank believes the economy has now turned a corner after last month's 50-basis-point cut to the OCR. 

It's cut the cash rate a further 25-basis-points to 2.25%, but is signalling further cuts are unlikely. 

Nicola Willis told Ryan Bridge that while the data lags make things difficult, there is enough other information to give them a sense of where the economy is at.  

She says it’s allowed the Reserve Bank to be confident in their forecast that the economy is growing and that growth will strengthen next year, and inflation will come down.  

LISTEN ABOVE 

The Finance Minister believes the country is in a position to grow. &nbsp;
The Reserve Bank believes the economy has now turned a corner after last month's 50-basis-point cut to the OCR.&nbsp;
It's cut the cash rate a further 25-basis-points to 2.25%, but is signalling further cuts are unlikely.&nbsp;
Nicola Willis told Ryan Bridge that while the data lags make things difficult, there is enough other information to give them a sense of where the economy is at. &nbsp;
She says it’s allowed the Reserve Bank to be confident in their forecast that the economy is growing and that growth will strengthen next year, and inflation will come down. &nbsp;
LISTEN ABOVE&nbsp;

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

Nicola Willis: Finance Minister on the cut to the Official Cash Rate, the economy

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a64c5517-f36f-4be8-8bc2-b3a1015fe3d9/transcript

Blowback from a business advocate on National's plan to break up Foodstuffs.  

If elected, and if the Commerce Commission agrees, the party would separate Pak'nSave from New World and Four Square to create more competition. 

But Foodstuffs warns there'd be significant implications and would affect more than 500 locally owned and operated stores. 

Business NZ Director of Advocacy Catherine Beard told Ryan Bridge threatening to split up private property is hugely alarming.  

She says it sends a terrible signal to overseas investors – that the government could essentially take away business. 

Beard also says there's a lack of evidence to suggest our food is more expensive than other countries. 

She told Bridge that while food prices have gone up, they're no higher than Australia and the UK. 

LISTEN ABOVE  

Blowback from a business advocate on National's plan to break up Foodstuffs. &nbsp;
If elected, and if the Commerce Commission agrees, the party would separate Pak'nSave from New World and Four Square to create more competition.&nbsp;
But Foodstuffs warns there'd be significant implications and would affect more than 500 locally owned and operated stores.&nbsp;
Business NZ Director of Advocacy Catherine Beard told Ryan Bridge threatening to split up private property is hugely alarming. &nbsp;
She says it sends a terrible signal to overseas investors – that the government could essentially take away business.&nbsp;
Beard also says there's a lack of evidence to suggest our food is more expensive than other countries.&nbsp;
She told Bridge that while food prices have gone up, they're no higher than Australia and the UK.&nbsp;
LISTEN ABOVE &nbsp;

Catherine Beard: BusinessNZ Director of Advocacy on National's plan to split up Foodstuffs to drive competition

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6dab8331-dfbe-4d75-8323-b4c70179d176/transcript

The economy is expected to keep improving as the year goes on.  

Stats NZ is releasing GDP data for April-to-June later this morning. 

Economists are expecting economic growth will come in between 0.1% and 0.3% for the quarter and between 2.2% and 2.4% for the year. 

Independent Economist Cameron Bagrie told Ryan Bridge we could soon get back to the growth we were seeing last year. 

We says we took a detour in the June quarter because fuel prices got so expensive, but quarter three is suggesting a number up around 0.8% to 0.9%. 

LISTEN ABOVE  

The economy is expected to keep improving as the year goes on. &nbsp;
Stats NZ is releasing GDP data for April-to-June later this morning.&nbsp;
Economists are expecting economic growth will come in between 0.1% and 0.3% for the quarter and between 2.2% and 2.4% for the year.&nbsp;
Independent Economist Cameron Bagrie told Ryan Bridge we could soon get back to the growth we were seeing last year.&nbsp;
We says we took a detour in the June quarter because fuel prices got so expensive, but quarter three is suggesting a number up around 0.8% to 0.9%.&nbsp;
LISTEN ABOVE &nbsp;

Cameron Bagrie: Economist expects the economy to improve with GDP expected to rise in Q2

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/24d6f60d-9a0c-4eb8-b517-b4c7016cd9bc/transcript

Two classic American food brands are landing in New Zealand, with Auntie Anne’s pretzels and Carvel soft serve opening in Auckland this month. 

Auntie Anne’s sells pretzels, lemonades, dips, and “pretzel dogs”, with more than 1,200 stores across 600 international locations. 

Carvel claims to have invented soft-serve ice cream. 

NZ Cinnabon franchise owner Kathan Parikh told Ryan Bridge they'll use mostly New Zealand ingredients while sticking to the classic American recipes. 

He says Kiwis travel a lot and this is a great opportunity for them to enjoy America on home soil.   

LISTEN ABOVE  

Two classic American food brands are landing in New Zealand, with Auntie Anne’s pretzels and Carvel soft serve opening in Auckland this month.&nbsp;
Auntie Anne’s sells pretzels, lemonades, dips, and “pretzel dogs”, with more than 1,200 stores across 600 international locations.&nbsp;
Carvel claims to have invented soft-serve ice cream.&nbsp;
NZ Cinnabon franchise owner Kathan Parikh told Ryan Bridge they'll use mostly New Zealand ingredients while sticking to the classic American recipes.&nbsp;
He says Kiwis travel a lot and this is a great opportunity for them to enjoy America on home soil. &nbsp;&nbsp;
LISTEN ABOVE &nbsp;

Kathan Parikh: NZ Cinnabon and Auntie Anne’s pretzels franchise owner on bringing new brands to NZ

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6fb33c35-3d00-455d-a9b8-b4c7012db8d5/transcript

Nicola Willis: Finance Minister on the cut to the Official Cash Rate, the economy

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