Another large cut to the Official Cash Rate's on the cards today. 

Economists and markets are almost certain the Reserve Bank will slash the OCR by 50-basis points. 

That would take the cash rate from its current 4.25% to 3.75%. 

BNZ Chief Economist Mike Jones told Mike Hosking that things are tracking as the Reserve Bank expected when they last met in November of last year. 

He says that in that meeting, the Reserve Bank essentially said they would cut 50 points unless something threw them wildly off track, and he doesn’t believe that’s happened. 

LISTEN ABOVE 

Another large cut to the Official Cash Rate's on the cards today.&nbsp;
Economists and markets are almost certain the Reserve Bank will slash the OCR by 50-basis points.&nbsp;
That would take the cash rate from its current 4.25% to 3.75%.&nbsp;
BNZ Chief Economist Mike Jones told Mike Hosking that things are tracking as the Reserve Bank expected when they last met in November of last year.&nbsp;
He says that in that meeting, the Reserve Bank essentially said they would cut 50 points unless something threw them wildly off track, and he doesn’t believe that’s happened.&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,...

The Mike Hosking Breakfast

Mike Jones: BNZ Chief Economist on the probable 50 basis point cut to the OCR

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0586b37f-4fc8-466b-a292-b288015c4b54/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.  

 

New Zealand: 7/10 

Between the investment conference, the India trip about to unfold, and the huge boost in visa interest from wealthy foreigners, that’s not a bad week's work for a small country trying to get its mojo back. 

 

Tariffs: 2/10 

The idiocy driving the ideology has been on full display. Random numbers, multiple threats, increased costs - all it has done this week is tank markets, decrease value, freak people out, provide uncertainty, and generally reinforce the idea that the U.S President is random as, if not dangerous. 

 

Whanganui: 7/10 

That council with the payment for meetings and dumping the food scraps is rolling. It's not often a council does two good things in a week. 

 

Liam Lawson: 8/10 

It's early days and the pressure is real, but F1 is as big as sport gets anywhere and he is at the pointy end of it. 

 

Fonterra: 9/10 

Yet another payment upgrade. Those guys can't stop giving away money. We like that too. 

 

Malcolm Turnbull: 7/10 

Sort of my hero of the week. If you give into bullies, you get more bullying. In politics, and life, it's sage advice. 

 

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;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/bill-haughey-abrdn-infrastructure-head-on-investing-in-new-zealand/">New Zealand: 7/10</a>&nbsp;
Between the investment conference, the India trip about to unfold, and the huge boost in visa interest from wealthy foreigners, that’s not a bad week's work for a small country trying to get its mojo back.&nbsp;
&nbsp;
Tariffs: 2/10&nbsp;
The idiocy driving the ideology has been on full display. Random numbers, multiple threats, increased costs - all it has done this week is tank markets, decrease value, freak people out, provide uncertainty, and generally reinforce the idea that the U.S President is random as, if not dangerous.&nbsp;
&nbsp;
Whanganui: 7/10&nbsp;
That council with the payment for meetings and dumping the food scraps is rolling. It's not often a council does two good things in a week.&nbsp;
&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/luke-smith-senior-f1-writer-for-the-atlantic-ahead-of-the-2025-season-opener-in-melbourne/">Liam Lawson: 8/10</a>&nbsp;
It's early days and the pressure is real, but F1 is as big as sport gets anywhere and he is at the pointy end of it.&nbsp;
&nbsp;
Fonterra: 9/10&nbsp;
Yet another payment upgrade. Those guys can't stop giving away money. We like that too.&nbsp;
&nbsp;
Malcolm Turnbull: 7/10&nbsp;
Sort of my hero of the week. If you give into bullies, you get more bullying. In politics, and life, it's sage advice.&nbsp;
&nbsp;
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW&nbsp;

Mark the Week: Not a bad week for New Zealand

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6e8b10eb-e729-4f3b-a8f7-b29f01667c77/transcript

I suppose technically it is only halfway through, with today still to go, but the Investment Summit looked good to me on day one. 

There seems no doubt that a lot of people with a lot of money turned up and some of them spoke of their desire to bid for projects. 

The Prime Minister, who needs some runs, I think has some and he hasn’t even left for India. 

His pitch that we are a shelter from the storm was smart. He looked like he had done this before. Perhaps we are seeing a little bit of what all the other delegates on the international sojourns see - that this is what he does well. 

He networks, he presses flesh, he pumps ideas, and he has a plan. 

Nothing specific as in “sign on the dotted line” or "write a cheque here and now” will come out of this. 

But already you can see, given the thing is oversubscribed, that the Prime Minister is right - the world is awash with cash, and they are keen to invest. 

$6 trillion is a stunning amount of money and if only a small chunk of it comes our way, and if only a tiny slice builds some roads or future proofs some infrastructure, this will have all been worth it. 

Eventually the proof will be in the pudding. Someone needs a signing ceremony and maybe a spade or two to be stuck in some ground. 

But I got the sense, as a frustrated punter, that it is these sorts of days and events that make us look like we might be on some sort of path back. 

We looked a bit professional and interested and that we might just have some decent adults about the place looking to put our stake in the global game and bring the world, so long locked out of this place, back into the room. 

If Luxon leaves this and can come back with something tangible post India, then it may well be we feel things are starting to roll. 

As I have said many times, it is hard to overstate the economic carnage they were handed and it's still far from over. 

The immigration numbers just yesterday reminded us of this. No, they are not leaving in the numbers they once did, but they are still leaving, and the arrivals are slowing as well. 

Fewer people means less economic activity. But you fix all that with reputation - a reputation of a rock star, of a success story or of a go-getter. 

Yesterday, and hopefully today, it looks like they are part of that bigger success story. 

I suppose technically it is only halfway through, with today still to go, but the Investment Summit looked good to me on day one.&nbsp;
There seems no doubt that a lot of people with a lot of money turned up and some of them spoke of their desire to bid for projects.&nbsp;
The Prime Minister, who needs some runs, I think has some and he hasn’t even left for India.&nbsp;
His pitch that we are a shelter from the storm was smart. He looked like he had done this before. Perhaps we are seeing a little bit of what all the other delegates on the international sojourns see - that this is what he does well.&nbsp;
He networks, he presses flesh, he pumps ideas, and he has a plan.&nbsp;
Nothing specific as in “sign on the dotted line” or "write a cheque here and now” will come out of this.&nbsp;
But already you can see, given the thing is oversubscribed, that the Prime Minister is right - the world is awash with cash, and they are keen to invest.&nbsp;
$6 trillion is a stunning amount of money and if only a small chunk of it comes our way, and if only a tiny slice builds some roads or future proofs some infrastructure, this will have all been worth it.&nbsp;
Eventually the proof will be in the pudding. Someone needs a signing ceremony and maybe a spade or two to be stuck in some ground.&nbsp;
But I got the sense, as a frustrated punter, that it is these sorts of days and events that make us look like we might be on some sort of path back.&nbsp;
We looked a bit professional and interested and that we might just have some decent adults about the place looking to put our stake in the global game and bring the world, so long locked out of this place, back into the room.&nbsp;
If Luxon leaves this and can come back with something tangible post India, then it may well be we feel things are starting to roll.&nbsp;
As I have said many times, it is hard to overstate the economic carnage they were handed and it's still far from over.&nbsp;
The immigration numbers just yesterday reminded us of this. No, they are not leaving in the numbers they once did, but they are still leaving, and the arrivals are slowing as well.&nbsp;
Fewer people means less economic activity. But you fix all that with reputation - a reputation of a rock star, of a success story or of a go-getter.&nbsp;
Yesterday, and hopefully today, it looks like they are part of that bigger success story.&nbsp;

Mike's Minute: The Investment Summit looks like a winner

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a0261e7b-9116-4f81-9e43-b29f015eed14/transcript

A potential government shutdown in the US as the deadline to fund federal agencies looms. 

Congress lawmakers have until the end of the day on Friday US time to fund its Government, or agencies will have to halt all non-essential functions. 

But the Bill will require the support of some democrats. 

US Correspondent Richard Arnold told Mike Hosking that's not guaranteed. 

He says while Democrats have supported Republicans in the past to avoid a shutdown, this time may be different given it's come in the midst of the Elon Musk sackings of government workers. 

LISTEN ABOVE 

A potential government shutdown in the US as the deadline to fund federal agencies looms.&nbsp;
Congress lawmakers have until the end of the day on Friday US time to fund its Government, or agencies will have to halt all non-essential functions.&nbsp;
But the Bill will require the support of some democrats.&nbsp;
US Correspondent Richard Arnold told Mike Hosking that's not guaranteed.&nbsp;
He says while Democrats have supported Republicans in the past to avoid a shutdown, this time may be different given it's come in the midst of the Elon Musk sackings of government workers.&nbsp;
LISTEN ABOVE&nbsp;

Mike Jones: BNZ Chief Economist on the probable 50 basis point cut to the OCR

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