There's uncertainty about what's next after today's OCR cut.

The Reserve Bank has slashed the Official Cash Rate 25 basis points to 3.5 percent, with most banks responding by cutting their advertised rates.

Economists are divided on how far rates will fall.

Westpac Chief Economist Kelly Eckhold says the global trading environment is changing by the day.

"There's no clarity, really, about the extent to which these tariffs are going to be in place, how countries are going to respond - and importantly, how this impacts on New Zealand as well."

LISTEN ABOVE

There's uncertainty about what's next after today's OCR cut.
The Reserve Bank has slashed the Official Cash Rate 25 basis points to 3.5 percent, with most banks responding by cutting their advertised rates.
Economists are divided on how far rates will fall.
Westpac Chief Economist Kelly Eckhold says the global trading environment is changing by the day.
"There's no clarity, really, about the extent to which these tariffs are going to be in place, how countries are going to respond - and importantly, how this impacts on New Zealand as well."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Kelly Eckhold: Westpac Chief Economist on the OCR getting cut by 25 basis points amid tariff uncertainty

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/99fd45bb-bee0-4b91-a6ae-b2ba00609845/transcript

Locals can only watch and wait as Rotorua police investigate a triple homicide after a woman and two children died last night. 

Emergency services arrived to find the children's bodies in a Glenholme property, and the woman died soon after.

A man's appeared in the District Court charged with assault in a family relationship - to reappear next month.

Rotorua Daily Post reporter Annabel Reid says neighbours who saw police arrive have been looking on today. 

"They were discussing it on the street with one another and watching as police carried out their duties - they had tape measures and markers and drones." 

LISTEN ABOVE

Locals can only watch and wait as Rotorua police investigate a triple homicide after a woman and two children died last night.&nbsp;
Emergency services arrived to find the children's bodies in a Glenholme property, and the woman died soon after.
A man's appeared in the District Court charged with assault in a family relationship - to reappear next month.
Rotorua Daily Post reporter Annabel Reid says neighbours who saw police arrive have been looking on today.&nbsp;
"They were discussing it on the street with one another and watching as police carried out their duties - they had tape measures and markers and drones."&nbsp;
LISTEN ABOVE

Annabel Reid: Rotorua Daily Post reporter on the ongoing investigations into Rotorua triple homicide

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/45f8e9b0-c3f3-4cd4-9a0e-b4bf00641e8f/transcript

National's promising councils a share of the International Visitor Levy instead of a bed tax.

It wants to split revenue from the $100 levy - currently going to conservation and tourism. 

It would ring-fence $150 million a year for that, letting councils divvy out the remainder based on their number of international guest nights. 

Tourism Spokesperson Louise Upston says New Zealand's cities have differing needs for that funding and it'll be split accordingly.

"This way, it'll get funding from the 1st of July next year, whereas a bed tax would have been at least May '29 before they got any funding - and the best part about this is that Kiwis won't be taxed any time they stay in a hotel." 

LISTEN ABOVE

National's promising councils a share of the International Visitor Levy instead of a bed tax.
It wants to split revenue from the $100 levy - currently going to conservation and tourism.&nbsp;
It would ring-fence $150 million a year for that, letting councils divvy out the remainder based on their number of international guest nights.&nbsp;
Tourism Spokesperson Louise Upston says New Zealand's cities have differing needs for that funding and it'll be split accordingly.
"This way, it'll get funding from the 1st of July next year, whereas a bed tax would have been at least May '29 before they got any funding - and the best part about this is that Kiwis won't be taxed any time they stay in a hotel."&nbsp;
LISTEN ABOVE

Louise Upston: Tourism Minister on the Government proposing an International Visitor Levy instead of a bed tax

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/dc95e77d-aef6-4a54-916c-b4bf005c4930/transcript

National's pledging cash for councils - instead of a bed tax - to deal with growing tourism and related infrastructure issues.

The party's promised it'll hand over a share of revenue from the newly announced International Visitor Levy, divvied up according to a council's visitor nights.

Newstalk ZB senior political correspondent Barry Soper says Auckland mayor Wayne Brown has voiced disapproval with this idea, and says Auckland will be short-changed as a result of this. 

LISTEN ABOVE

National's pledging cash for councils - instead of a bed tax - to deal with growing tourism and related infrastructure issues.
The party's promised it'll hand over a share of revenue from the newly announced International Visitor Levy, divvied up according to a council's visitor nights.
Newstalk ZB senior political correspondent Barry Soper says Auckland mayor Wayne Brown has voiced disapproval with this idea, and says Auckland will be short-changed as a result of this.&nbsp;
LISTEN ABOVE

Barry Soper: Newstalk ZB senior political correspondent on National promising International Visitor Levy as an alternative to bed taxes

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2029b839-ec61-4fac-8f8c-b4bf0057fa9d/transcript

Kelly Eckhold: Westpac Chief Economist on the OCR getting cut by 25 basis points amid tariff uncertainty

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