Another spike in inflation won't stop the Reserve Bank from cutting the Official Cash Rate again next month.

Stats NZ is providing its latest quarterly CPI update at 10.45.

Most economists expect it to hit the Reserve Bank's upper limit of three-percent, and some think it will surpass that limit.

But Westpac Chief Economist Kelly Eckhold told Mike Hosking the Reserve Bank still thinks the economy's weak enough to start pushing inflation down.

He says even the Reserve Bank probably won't be too bothered, even if inflation surpasses the three-percent limit.

LISTEN ABOVE

Another spike in inflation won't stop the Reserve Bank from cutting the Official Cash Rate again next month.
Stats NZ is providing its latest quarterly CPI update at 10.45.
Most economists expect it to hit the Reserve Bank's upper limit of three-percent, and some think it will surpass that limit.
But Westpac Chief Economist Kelly Eckhold told Mike Hosking the Reserve Bank still thinks the economy's weak enough to start pushing inflation down.
He says even the Reserve Bank probably won't be too bothered, even if inflation surpasses the three-percent limit.
LISTEN ABOVE

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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

Kelly Eckhold: Westpac Chief Economist challenges the Reserve Bank's cuts to the Official Cash Rate

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/aee4bdec-2528-4625-aaef-b37b0131582f/transcript

I read that nearly a third of students who would have passed NCEA Level 2 under the current system will struggle under the new one. 

BERL have done research that suggests 15,000 students have followed pathways that may be harder to replicate. 

I'm not sure what the point of this research is. 

They also claim the changes come at a cost of $50 million, most of which goes into relief teachers to cover staff working on changes. 

The narrative is sort of presented as one of potential trouble, or a bleak future for kids that won't cope. 

Here is what I know as a parent of five, who all dealt with NCEA at various levels – it’s a joke. Not all of it, but a lot of it. 

The sad truth is that if 15,000 are not going to be able to carry on the way they were under this new system, I say not a moment too soon. 

NCEA was, without putting too fine a point on it, a piss-take. 

On paper the idea you could pick from a myriad of nice-to-haves, anything you want that didn’t need to be relevant to the real world or your chances at a job, was fun. You could piece together your eclectic selection of hobby topics and before you knew it, you had your credits. 

This was a farce. In theory it's fantastic. In reality it was a rort to game the system. 

When BERL say replicate the old system, this is what they mean; subjects no one cares about, or is getting work in, or subjects you may be interested in as a night class at polytech. None of it was designed to set you up for life. 

It was designed to produce a factory of success stories so schools could say look at our pass rate. 

You weren't passing anything of note. 

So the next problem is when students turn up to real subjects, with real expectations, and they struggle. That will show up in figures. 

It will show up in fails. Oh, I used that word that can't be used in education – "fail", "did not achieve", "not passed". 

But that is how countries who succeed do it. They educate their kids in real-world subjects at real-world rates because, guess what, they are going out into the real world. 

Our foray into educational fantasy was always going to end in tears. Between Covid and 25 years of NCEA we have sold a generation of kids short, if not down the river. 

Sure, lots did fine. But that’s always the way. 

Good kids never fail. It's the rest who didn’t know better, or who took the mickey, that will, and are, paying the price. 

I read that nearly a third of students who would have passed NCEA Level 2 under the current system will struggle under the new one.&nbsp;
BERL have done research that suggests 15,000 students have followed pathways that may be harder to replicate.&nbsp;
I'm not sure what the point of this research is.&nbsp;
They also claim the changes come at a cost of $50 million, most of which goes into relief teachers to cover staff working on changes.&nbsp;
The narrative is sort of presented as one of potential trouble, or a bleak future for kids that won't cope.&nbsp;
Here is what I know as a parent of five, who all dealt with NCEA at various levels – it’s a joke. Not all of it, but a lot of it.&nbsp;
The sad truth is that if 15,000 are not going to be able to carry on the way they were under this new system, I say not a moment too soon.&nbsp;
NCEA was, without putting too fine a point on it, a piss-take.&nbsp;
On paper the idea you could pick from a myriad of nice-to-haves, anything you want that didn’t need to be relevant to the real world or your chances at a job, was fun. You could piece together your eclectic selection of hobby topics and before you knew it, you had your credits.&nbsp;
This was a farce. In theory it's fantastic. In reality it was a rort to game the system.&nbsp;
When BERL say replicate the old system, this is what they mean; subjects no one cares about, or is getting work in, or subjects you may be interested in as a night class at polytech. None of it was designed to set you up for life.&nbsp;
It was designed to produce a factory of success stories so schools could say look at our pass rate.&nbsp;
You weren't passing anything of note.&nbsp;
So the next problem is when students turn up to real subjects, with real expectations, and they struggle. That will show up in figures.&nbsp;
It will show up in fails. Oh, I used that word that can't be used in education – "fail", "did not achieve", "not passed".&nbsp;
But that is how countries who succeed do it. They educate their kids in real-world subjects at real-world rates because, guess what, they are going out into the real world.&nbsp;
Our foray into educational fantasy was always going to end in tears. Between Covid and 25 years of NCEA we have sold a generation of kids short, if not down the river.&nbsp;
Sure, lots did fine. But that’s always the way.&nbsp;
Good kids never fail. It's the rest who didn’t know better, or who took the mickey, that will, and are, paying the price.&nbsp;

Mike's Minute: We are moving forward into real-world education

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e0e2a9a7-c3e2-43b2-864c-b4c50179a411/transcript

More signs of life in the economy, as the services sector expands for a third straight month.  

The BNZ-BusinessNZ Performance of Services Index rose to 51.2 in August – it's strongest result since September 2023. 

New orders and business rose to 55.2, while retail climbed above 50 for the first time since January.  

BNZ Senior Economist Doug Steel told Mike Hosking the new orders number is the bright spot on the survey and gives them hope that recovery is going to broaden. 

He says exports are a pretty big driver of things picking up, especially primary exports, which is then driving activity in areas like transport and storage.  

LISTEN ABOVE  

More signs of life in the economy, as the services sector expands for a third straight month. &nbsp;
The BNZ-BusinessNZ Performance of Services Index rose to 51.2 in August – it's strongest result since September 2023.&nbsp;
New orders and business rose to 55.2, while retail climbed above 50 for the first time since January. &nbsp;
BNZ Senior Economist Doug Steel told Mike Hosking the new orders number is the bright spot on the survey and gives them hope that recovery is going to broaden.&nbsp;
He says exports are a pretty big driver of things picking up, especially primary exports, which is then driving activity in areas like transport and storage. &nbsp;
LISTEN ABOVE &nbsp;

Doug Steel: BNZ Senior Economist on the services sector expanding in the BNZ-BusinessNZ Performance of Services Index

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/142ad6b1-4c7c-4f57-bc97-b4c50174470c/transcript

One of the greatest snow sport athletes of all time is heading to our shores this week. 

Shaun White is launching his new Snow League World Challenge at Cardrona this weekend, the event preceding the league's second season. 

The highly decorated snowboarder told Mike Hosking he's been coming to New Zealand for a long time, and so naturally, he had to bring the league here.  

"It's actually one of my favourite places to go," White said. 

"So when I was thinking about bringing my event, the Snow League, y'know, around the world, I was like, we have to stop in New Zealand." 

Snow League is something White's dreamed of doing since he was competing himself, and says it's been nice to be able to use his voice in the sport to make it better for everyone else.  

"I definitely don't think we're where we want to be – we're growing still, we're trying new things, and that's why we're so excited to come to New Zealand," he told Hosking. 

"But the future is looking bright." 

LISTEN ABOVE  

One of the greatest snow sport athletes of all time is heading to our shores this week.&nbsp;
Shaun White is launching his new Snow League World Challenge at Cardrona this weekend, the event preceding the league's second season.&nbsp;
The highly decorated snowboarder told Mike Hosking he's been coming to New Zealand for a long time, and so naturally, he had to bring the league here. &nbsp;
"It's actually one of my favourite places to go," White said.&nbsp;
"So when I was thinking about bringing my event, the Snow League, y'know, around the world, I was like, we have to stop in New Zealand."&nbsp;
Snow League is something White's dreamed of doing since he was competing himself, and says it's been nice to be able to use his voice in the sport to make it better for everyone else. &nbsp;
"I definitely don't think we're where we want to be – we're growing still, we're trying new things, and that's why we're so excited to come to New Zealand," he told Hosking.&nbsp;
"But the future is looking bright."&nbsp;
LISTEN ABOVE &nbsp;

Shaun White: Highly decorated snowboarder on bringing the Snow League to NZ, upcoming second season

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d96392c9-a4d6-4955-94b6-b4c5016c376d/transcript

Kelly Eckhold: Westpac Chief Economist challenges the Reserve Bank's cuts to the Official Cash Rate

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