Don't bank on further cuts to the Official Cash Rate. 

The Reserve Bank's dropped the OCR 25 basis points to 3.25%, and is now forecasting it could reach a low of 2.9% by the end of the year. 

But Governor Christian Hawkesby says further cuts aren't guaranteed. 

He told Mike Hosking they're taking things one step at a time, as they wait to see how global developments affect the economy and inflation. 

Hawkesby says the OCR is now close to "neutral" and the Reserve Bank's next move won't be pre-programmed, it will depend on how things unfold. 

LISTEN ABOVE 

Don't bank on further cuts to the Official Cash Rate.&nbsp;
The Reserve Bank's dropped the OCR 25 basis points to 3.25%, and is now forecasting it could reach a low of 2.9% by the end of the year.&nbsp;
But Governor Christian Hawkesby says further cuts aren't guaranteed.&nbsp;
He told Mike Hosking they're taking things one step at a time, as they wait to see how global developments affect the economy and inflation.&nbsp;
Hawkesby says the OCR is now close to "neutral" and the Reserve Bank's next move won't be pre-programmed, it will depend on how things unfold.&nbsp;
LISTEN ABOVE&nbsp;

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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,...

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Christian Hawkesby: Acting Reserve Bank Governor on the OCR cut, future developments

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/57b67884-4b32-4256-a6ca-b2eb014ebfe4/transcript

Employers are remaining cautious as the Iran war continues to push up fuel prices and slow economic growth. 

Unemployment dipped slightly to 5.3% in the March quarter. 

Employers and Manufacturers Association Advocacy Head Alan McDonald says businesses he's talked to aren't yet looking to shed staff. 

He told Mike Hosking that they can see it’s going to get better when the conflict ends, and they want those good people around to help the business get going again. 

Auckland, Wellington, and Canterbury, are all facing a rising unemployment rate, and it’s surging in Bay of Plenty. 

Auckland's rate climbed again to 6.6% and in Bay of Plenty it skyrocketed to 7.1%. 

McDonald says both regions rely more on industries doing it tough, but those industries also tend to soak up more employees when they're doing well. 

LISTEN ABOVE  

Employers are remaining cautious as the Iran war continues to push up fuel prices and slow economic growth.&nbsp;
Unemployment dipped slightly to 5.3% in the March quarter.&nbsp;
Employers and Manufacturers Association Advocacy Head Alan McDonald says businesses he's talked to aren't yet looking to shed staff.&nbsp;
He told Mike Hosking that they can see it’s going to get better when the conflict ends, and they want those good people around to help the business get going again.&nbsp;
Auckland, Wellington, and Canterbury, are all facing a rising unemployment rate, and it’s surging in Bay of Plenty.&nbsp;
Auckland's rate climbed again to 6.6% and in Bay of Plenty it skyrocketed to 7.1%.&nbsp;
McDonald says both regions rely more on industries doing it tough, but those industries also tend to soak up more employees when they're doing well.&nbsp;
LISTEN ABOVE &nbsp;

Alan McDonald: Employers and Manufacturers Association Advocacy Head on the unemployment rate dipping to 5.3% in the March quarter

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6881ff2d-29b0-4be8-924b-b442015d5243/transcript

Christchurch's Mayor doesn't think previously red zoned land has been tainted by its past.  

The City Council's agreed to engage with interested parties, including social housing providers, iwi, and private developers.  

It's identified more than 10 hectares of land, split across 11 parts of the quake damaged zone, suitable for housing. 

Phil Mauger told Mike Hosking work will be needed on the foundations, but it's suitable to live on.  

He says 15 years ago red zoned land was defined by a ball point pen by someone in Wellington – now we know a lot more and there are some little pockets that could be used. 

LISTEN ABOVE  

Christchurch's Mayor doesn't think previously red zoned land has been tainted by its past. &nbsp;
The City Council's agreed to engage with interested parties, including social housing providers, iwi, and private developers. &nbsp;
It's identified more than 10 hectares of land, split across 11 parts of the quake damaged zone, suitable for housing.&nbsp;
Phil Mauger told Mike Hosking work will be needed on the foundations, but it's suitable to live on. &nbsp;
He says 15 years ago red zoned land was defined by a ball point pen by someone in Wellington – now we know a lot more and there are some little pockets that could be used.&nbsp;
LISTEN ABOVE &nbsp;

Phil Mauger: Christchurch Mayor on the areas of the red zone deemed suitable for housing

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e8b5fba9-7bd5-4295-a92d-b4420158ec65/transcript

The Prime Minister says we have serious work to do on our infrastructure compared to Singapore. 

He's returned from the country this week, where a deal was formally signed to ensure trade keeps flowing during disruptions – securing fuel for New Zealand and food for Singapore. 

This comes as the former boss of Auckland's City Rail Link claims the project could have cost 50% less – ballooning to an estimated 5.5 billion dollars. 

Christopher Luxon told Mike Hosking he agrees with this. 

He says that we spend money on infrastructure but have a very poor return on it, and we need to get much better and more strategic about our planning.  

And when it comes to the Government’s plans for a citizenship test, the Prime Minister says he could take it or leave it.   

It's planning to test applicants from late next year, requiring they pass 15 out of 20 multi-choice questions – including questions on New Zealand’s laws and political system. 

Luxon told Hosking it's pretty similar to what the UK and Australia have been doing for years.  

He says it's probably not a bad thing that new Kiwis are aware of pretty basic stuff around things like women's rights and freedom of speech. 

LISTEN ABOVE  

The Prime Minister says we have serious work to do on our infrastructure compared to Singapore.&nbsp;
He's returned from the country this week, where a deal was formally signed to ensure trade keeps flowing during disruptions – securing fuel for New Zealand and food for Singapore.&nbsp;
This comes as the former boss of Auckland's City Rail Link claims the project could have cost 50% less – ballooning to an estimated 5.5 billion dollars.&nbsp;
Christopher Luxon told Mike Hosking he agrees with this.&nbsp;
He says that we spend money on infrastructure but have a very poor return on it, and we need to get much better and more strategic about our planning. &nbsp;
And when it comes to the Government’s plans for a citizenship test, the Prime Minister says he could take it or leave it. &nbsp;&nbsp;
It's planning to test applicants from late next year, requiring they pass 15 out of 20 multi-choice questions – including questions on New Zealand’s laws and political system.&nbsp;
Luxon told Hosking it's pretty similar to what the UK and Australia have been doing for years. &nbsp;
He says it's probably not a bad thing that new Kiwis are aware of pretty basic stuff around things like women's rights and freedom of speech.&nbsp;
LISTEN ABOVE &nbsp;

Christopher Luxon: Prime Minister discusses the infrastructure costs and the City Rail Link, citizenship test

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/18b05bc4-282c-4a18-ada6-b4420153b3e1/transcript

Christian Hawkesby: Acting Reserve Bank Governor on the OCR cut, future developments

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