The Reserve Bank Governor doesn't want to hinder New Zealand's economic recovery any more than she needs to. 

Anna Breman has confirmed the first OCR hike in more than three years – lifting it from 2.25% to 2.5%. 

Former Governor Adrian Orr was open about trying to "engineer" a recession during the last cycle of OCR hikes. 

Breman told Mike Hosking that's not what she's trying to do. 

She says they try not to create unnecessary volatility, which means not hurting economic growth unless they absolutely need to. 

LISTEN ABOVE 

The Reserve Bank Governor doesn't want to hinder New Zealand's economic recovery any more than she needs to.&nbsp;
Anna Breman has confirmed the first OCR hike in more than three years – lifting it from 2.25% to 2.5%.&nbsp;
Former Governor Adrian Orr was open about trying to "engineer" a recession during the last cycle of OCR hikes.&nbsp;
Breman told Mike Hosking that's not what she's trying to do.&nbsp;
She says they try not to create unnecessary volatility, which means not hurting economic growth unless they absolutely need to.&nbsp;
LISTEN ABOVE&nbsp;

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Anna Breman: Reserve Bank Governor on the decision to raise the Official Cash Rate to 2.5%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/cebe9008-f1fb-4e7d-983c-b481014fb0a9/transcript

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all. 

 

Christopher Luxon: 8/10 

Stared them down, again, and they folded like an umbrella. 

 

Chris Penk: 1/10 

Not only did he get sucked in in the first place, he paid the ultimate price for a flop. 

 

Chris Bishop: 2/10 

He can say what he likes, but we know. 

 

Erica Stanford: 3/10 

She can say what she likes, if she was saying anything at all. Let's put it this way; if they ran the country like they ran a coup, we'd really be in trouble. 

 

Hipkins in Rotorua: 3/10 

"Emergency housing got a bit out of control." Did it Chris? Honestly. And no apology? The guy is a robot. 

 

Trump in the food delivery truck: 8/10 

And he takes Hegseth but leaves Rubio, Miller, and Bessent on board the old one with the blinds down. Who needs enemies? 

 

LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW 

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all.&nbsp;
&nbsp;
Christopher Luxon: 8/10&nbsp;
Stared them down, again, and they folded like an umbrella.&nbsp;
&nbsp;
Chris Penk: 1/10&nbsp;
Not only did he get sucked in in the first place, he paid the ultimate price for a flop.&nbsp;
&nbsp;
Chris Bishop: 2/10&nbsp;
He can say what he likes, but we know.&nbsp;
&nbsp;
Erica Stanford: 3/10&nbsp;
She can say what she likes, if she was saying anything at all. Let's put it this way; if they ran the country like they ran a coup, we'd really be in trouble.&nbsp;
&nbsp;
Hipkins in Rotorua: 3/10&nbsp;
"Emergency housing got a bit out of control." Did it Chris? Honestly. And no apology? The guy is a robot.&nbsp;
&nbsp;
Trump in the food delivery truck: 8/10&nbsp;
And he takes Hegseth but leaves Rubio, Miller, and Bessent on board the old one with the blinds down. Who needs enemies?&nbsp;
&nbsp;
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW&nbsp;

Mark the Week: Luxon stared them down again

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/01869ab5-41af-4917-a2e0-b4a5016b79ad/transcript

So we have Golden Bay Cement and we have New Zealand Steel. 

In their own way, both companies that make things we need as a country and would struggle without. 

One of them said they would close because of the ETS cost of producing cement locally, and the other is now making steel with its renewable powered electric furnace. 

Neither paid for their improvements. We did. 

Is this good business? 

In talking to Contact, the power supplier to NZ Steel, they say yes and they say yes because of the jobs; local manufacturing and local jobs and a better climate. 

They also supply the electricity for the furnace, so why wouldn’t they say yes? 

So what is the price of the climate? The odd bit about the cement is imported cement doesn’t attract the same ETS cost as the local sort. That seemed, and seems, odd. 

It doesn't seem like a level playing field. You might remember I asked the Government at the time why we didn’t just carve out the product from the ETS like we carve out farmers. 

The Prime Minister said we didn’t want to mess with the ETS, despite the fact we had messed with the ETS. 

When I asked the bloke at the steel factory whether they would have paid for the furnace themselves he wasn’t keen to be overly clear. So I still don’t know. 

But why would you pay if you can get someone else to? In this case it was $140 million from the previous Labour Government. 

The steel, by the way, reduces this country's overall emissions by 1%. Is that worth it? Is any of it worth it? 

So two stories, two companies, and $200 million of taxpayer's money to allegedly address two pressing climate problems. 

Mind you, they did the same yesterday in New South Wales for an aluminium operation to the tune of $2.5 billion to save 1000 jobs, so clearly it’s a new age thing. 

What is the return on that for any of us? What materially changes apart from the concept? And that is all it is – the concept. 

That we produce cleaner products, which of course is a good thing, but it would also be a cleaner environment if the Government bought me an EV and paid for my solar. But they're not going to, are they? 

If business in the cement case becomes untenable, is the climate worth it? 

Or if business would like to, as in the steel, but won't, why should we? 

Is it now the taxpayer's job and obligation to clean up every business that wants it? 

And if so, how is that good business? 

So we have Golden Bay Cement and we have New Zealand Steel.&nbsp;
In their own way, both companies that make things we need as a country and would struggle without.&nbsp;
One of them said they would close because of the ETS cost of producing cement locally, and the other is now making steel with its renewable powered electric furnace.&nbsp;
Neither paid for their improvements. We did.&nbsp;
Is this good business?&nbsp;
In talking to Contact, the power supplier to NZ Steel, they say yes and they say yes because of the jobs; local manufacturing and local jobs and a better climate.&nbsp;
They also supply the electricity for the furnace, so why wouldn’t they say yes?&nbsp;
So what is the price of the climate? The odd bit about the cement is imported cement doesn’t attract the same ETS cost as the local sort. That seemed, and seems, odd.&nbsp;
It doesn't seem like a level playing field. You might remember I asked the Government at the time why we didn’t just carve out the product from the ETS like we carve out farmers.&nbsp;
The Prime Minister said we didn’t want to mess with the ETS, despite the fact we had messed with the ETS.&nbsp;
When I asked the bloke at the steel factory whether they would have paid for the furnace themselves he wasn’t keen to be overly clear. So I still don’t know.&nbsp;
But why would you pay if you can get someone else to? In this case it was $140 million from the previous Labour Government.&nbsp;
The steel, by the way, reduces this country's overall emissions by 1%. Is that worth it? Is any of it worth it?&nbsp;
So two stories, two companies, and $200 million of taxpayer's money to allegedly address two pressing climate problems.&nbsp;
Mind you, they did the same yesterday in New South Wales for an aluminium operation to the tune of $2.5 billion to save 1000 jobs, so clearly it’s a new age thing.&nbsp;
What is the return on that for any of us? What materially changes apart from the concept? And that is all it is – the concept.&nbsp;
That we produce cleaner products, which of course is a good thing, but it would also be a cleaner environment if the Government bought me an EV and paid for my solar. But they're not going to, are they?&nbsp;
If business in the cement case becomes untenable, is the climate worth it?&nbsp;
Or if business would like to, as in the steel, but won't, why should we?&nbsp;
Is it now the taxpayer's job and obligation to clean up every business that wants it?&nbsp;
And if so, how is that good business?&nbsp;

Mike's Minute: It's not the taxpayers' job to "clean up" businesses

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f30ea370-4ba3-488c-8230-b4a5016a6c1e/transcript

It’s Friday, which means Kate Hawkesby and Tim Wilson are back with Mike Hosking to Wrap the Week that Was. 

They discussed National’s leadership challenge and the coup that wasn’t, the podcasts covering 100 Years of ZB, and tonight’s party celebrating the occasion.  

LISTEN ABOVE  

It’s Friday, which means Kate Hawkesby and Tim Wilson are back with Mike Hosking to Wrap the Week that Was.&nbsp;
They discussed National’s leadership challenge and the coup that wasn’t, the podcasts covering 100 Years of ZB, and tonight’s party celebrating the occasion. &nbsp;
LISTEN ABOVE &nbsp;

Wrapping the Week with Kate Hawkesby and Tim Wilson: The National leadership challenge, the party for 100 Years of ZB

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/827e0f3e-0c73-4528-a457-b4a50165ee95/transcript

Anna Breman: Reserve Bank Governor on the decision to raise the Official Cash Rate to 2.5%

In 1 playlist(s)

The Mike Hosking Breakfast

Social links

Follow podcast

Recent clips